The latest UK Government borrowing figure for August is the highest for the month since the height of the Covid pandemic: £18bn.
Borrowing over the first 5 months of the financial year has reached £83.8bn, which is £16.2bn higher than the same period last year. It is above the prediction of £72.4bn that the Office for Budget Responsibility made in March.
Commenting on the state of the public finances, Janet said:
“This record borrowing is yet further evidence of the deteriorating nature of public finances under Rachel Reeves and Keir Starmer.
“Months of high borrowing and the completely shambolic attempt to cut spending have all but wiped out the Chancellor's headroom, leaving it seems almost absolutely everyone unhappy with this UK Labour Government.
“The best step the UK Government and Welsh Government can now take is to tackle head on all policies that are hampering economic growth, including changes to national insurance, business rates, and over burdensome regulations in several sectors. As it stands we in Wales are likely heading towards tax increases from the UK Labour Government and cuts by the Welsh Labour Government, so will be paying even more for even less.
“This country urgently needs to be freed from the Starmer and Morgan spiral of economic gloom”.
ENDS
Ffigur benthyca diweddaraf Llywodraeth y DU ar gyfer mis Awst yw'r uchaf ar gyfer y mis ers anterth y pandemig Covid: £18bn.
Mae benthyca dros 5 mis cyntaf y flwyddyn ariannol wedi cyrraedd £83.8bn, sydd £16.2bn yn uwch na'r un cyfnod y llynedd. Mae'n uwch na'r rhagfynegiad o £72.4bn a wnaeth y Swyddfa Cyfrifoldeb Cyllidebol ym mis Mawrth.
Wrth sôn am gyflwr cyllid cyhoeddus, dywedodd Janet:
"Mae'r ddyled uchaf erioed hon yn dystiolaeth bellach o natur ddirywiol cyllid cyhoeddus o dan Rachel Reeves a Keir Starmer.
"Mae misoedd o fenthyca uchel a'r ymgais hollol afreolus i dorri gwariant wedi dileu hyblygrwydd y Canghellor, ac mae’n ymddangos fod bron pawb yn anhapus gyda Llywodraeth Lafur y DU.
"Y cam gorau y gall Llywodraeth y DU a Llywodraeth Cymru ei gymryd nawr yw mynd i'r afael â'r holl bolisïau sy'n rhwystro twf economaidd, gan gynnwys newidiadau i yswiriant gwladol, ardrethi busnes a rheoliadau gormodol mewn sawl sector. Mae’n edrych yn debyg y byddwn ni yng Nghymru yn gweld cynnydd mewn trethi gan Lywodraeth Lafur y DU a thoriadau gan Lywodraeth Lafur Cymru, felly byddwn yn talu hyd yn oed mwy am hyd yn oed llai.
"Mae angen mynd ati ar unwaith i ryddhau’r wlad hon o dwnnel economaidd tywyll Starmer a Morgan".
DIWEDD
