21/11/2013 09:27 GMT | Updated 21/11/2013 09:37 GMT

George Osborne Has Borrowed More In 3 Years Than Labour Did In 13

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LONDON, UNITED KINGDOM - MARCH 19: U.K. Chancellor of the Exchequer George Osborne attends the launch of the National Loan Guarantee Scheme (NLGS) at a Barclays Plc bank branch on March 19, 2012 in London, United Kingdom. Osborne won the backing of all except one of Britain's major banks for his credit-easing plan that aims to funnel cheap loans to small and mid-sized companies. (Photo by Simon Dawson-Pool/Getty Images)

George Osborne's claims to be prudent with the nation's finances have been brutally undermined by the fact he has added more to Britain's £1.2 trillion debt pile in his three years as Chancellor than Labour did in thirteen.

The latest economic figures from the Office for National Statistics showed that the coalition has borrowed £430.072 billion, whereas the last Labour government managed to borrow just £429.975 billion.


The Tories have rushed to distract attention from this awkward economic fact by blaming Labour, saying: "it takes time to cut Labour's deficit. But we have borrowed a lot less than Labour planned and you have repeatedly demanded."

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