Look at the fundamentals: growth down, borrowing up, more cuts.
Labour would also stimulate economic growth by borrowing to invest in infrastructure projects, McDonnell said.
Restrictions on fiscal policy limit the ability of governments to stimulate growth by borrowing and spending.
#AutumnStatement December 5, 2013 Vote Roehampton (@VoteRoehampton) Very promising news in the #AutumnStatement about growth, employment, borrowing + deficit.
New forecasts of growth and borrowing should be made by an independent Office for Budget Responsibility for this emergency budget.
In reality, the higher leverage requirements already in place have had no effect whatsoever on lending growth or borrowing costs.
Other states, like California, have looked to their lotteries for revenue growth or borrowing; some, including New York, raised the tax on cigarettes.
"The financial system inquiry warned that continued growth in borrowing for housing by superannuation funds could pose a risk to the financial system," the policy says.
The forecast is based on the estimate of the Office of Budget Responsibility, the new independent body set up by the coalition to publish independent forecasts on jobs, growth and borrowing.
In front of increasingly fractious Tory backbenchers, he had to 'fess up to lower growth, higher borrowing and lay out still more cuts for the future.
The chief secretary also admitted that despite an increase in growth forecasts, borrowing was likely to be higher this year due to lower than expected tax receipts.
