Osborne’s austerity agenda fails to reduce deficit, ONS figures show

‘UK government borrowing increased in August, despite Chancellor George Osborne’s repeated promises that austerity is the most viable means of reducing the state’s deficit.

In the face of scathing criticism, Osborne has consistently claimed the government’s austerity policies are necessary to keep the deficit in order. However, doubt over the credibility of his claims surfaced on Tuesday, after new figures showed a clear rise in public borrowing for August 2015.

Britain’s Office for National Statistics (ONS) said the increase in borrowing was due to a shift in income tax receipts.’

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