24/01/2012

Other News In Brief

Gov Borrowing Down But Total Debt Up

Government borrowing fell in December for the fourth month in a row, while the UK's total outstanding debts rose broke the trillion pound ceiling, official figures say. The Office for National Statistics figures showed a drop of £2.2bn from a year earlier to £13.7bn, which was a bigger fall than expected. However, the extra borrowing has taken total government net debt above £1tn for the first time, against £883bn a year ago. A Treasury spokesperson said: "That our national debt has reached more than one trillion pounds simply shows the unsustainable level of spending this country built up over the past few years, and shows why it is critical for our nation's future that we deal decisively with the deficit."

Redknapp Kept Offshore Account Secret From Accountant

A court has heard that Tottenham Hotspur boss Harry Redknapp did not tell his accountant or bank about a long held offshore account. He is accused of receiving secret payments from former Portsmouth chairman Milan Mandaric, 73, while he was manager at the south coast club. The Tottenham boss only revealed he had the Monaco-based account after being asked by the Premier League's Quest inquiry, Southwark Crown Court heard.

UK house sales down 11%

UK house sales tumbled by 11% in 2011 according to HM Revenue & Customs. The number of sales fell to just 869,000, one of the lowest totals on record. The fall means the property market has been in a three-year slump, with sales roughly half the levels recorded in the run up to the banking crisis in 2007. Sales have been depressed by a combination of mortgage rationing by lenders, and rising unemployment. The record low was in 2009, when just 848,000 homes were sold, the fewest since modern records began in 1978.

(DW/GK)

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