Recession swells British government's debts

Courtesy Newsvine - business  Fri, 09/18/2009 - 05:10

The recession's toll on British government finances was highlighted Friday by official figures showing the government borrowed a record 16.1 billion pounds ($26.3 billion) in August, just days after Prime Minister Gordon Brown conceded that whoever wins the next election will have to take an axe to spending.

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