Stafford MP, Jeremy Lefroy has today said that the June national borrowing figures show why firm government action is needed.

The public sector net borrowing requirement was £14.5 billion in June 2010, compared with £14.7 billion in June 2009. Total public sector net debt (excluding financial interventions) rose to 56.1 per cent of GDP at the end of June 2010 compared with 47.7 per cent at end of June 2009. Our national debt now stands at £813.7 billion, more than £13,000 for every man, woman and child in the country.

Mr Lefroy commented:

“Every minute in June, the Government borrowed another £335,000. The Government recognises that this is simple unaffordable and unsustainable, which is why it set out its plans to cut the deficit immediately after coming to office.”

Speaking of the impact these figures have in Stafford constituency, he added:

“These borrowing figures clearly show why the actions this Government has taken to reduce the massive budget deficit are needed. Every household in Stafford constituency will be paying nearly £1,500 this simply to service the interest on our national debt; each household’s share of the debt is more than £31,000.

“Our constituency’s share of the national debt is £1.2 billion.

“The coalition Government is taking action to get the deficit under control, including £32 billion of cuts and £8 billion of tax increased announced in the emergency budget last month. It is clear that the impact of the decisions we have already taken is not yet reflected in the borrowing figures. But in time it will show through."