George Osborne's shame as Britain's debt tops £1.6TRILLION amid borrowing spiral
THE Chancellor has been left red-faced after Britain's debt surged to £1.606 TRILLION last month, as the Government continues to borrow billions more than expected, figures revealed today.
The Government borrowed a staggering £17.9billion in the two months since the start of the financial year in April - even more than the same time period last year.
It meant Britain's gigantic debt as a share of the edged up again in May to 83.7 per cent, with the state now owing an extra £49.6 billion compared to May 2015.
The jump in this year's borrowing also puts the Chancellor firmly on track to spectacularly blow his election promises.