How the Government spent your money last year

The Office for National Statistics has revealed that the UK's budget deficit in the 2012/13 financial year came in at £120.6 billion. As this is just £300 million less than the £120.9 billion shortfall for 2011/12, the Chancellor claims that he is delivering on his 'Plan A' of reducing government overspending.

Then again, what is £300 million when compared to total Government expenses? With spending predicted to be £720 billion in 2012/13, it's a mere 1/2,400th of total spending. To put it another way, this £300 million saved accounts for a little over 3.5 hours of Government spending.
%VIRTUAL-SkimlinksPromo%