As the credit crunch bites harder and the UK economy faces slowdown, there are speculations that Government borrowing is soaring well above normal pace.

Total state debt between April and July this year stood at £19.1 billion, whereas in the same period last year it was just £8.4 billion, figures from the Office for National Statistics revealed.

And politicians are warning that with the rate at which the country’s debt is mounting total borrowing this year could reach a whopping £80 billion.

This will be twice the £43 billion predicted by the Government in this year’s budget and more than double the total of £35 billion recorded last year.

Commenting on the situation, Shadow Chancellor George Osborne said the figures showed that borrowing was out of control.

“One test of a fair society is that we do not leave our children to pay our debts, and this fiscal irresponsibility is not just reckless, it is deeply unfair on our generations,” he added.

Chancellor Alistair Darling last month announced a review of the Government’s fiscal rule after net borrowing hit £24.4 billion in the first quarter of this financial year.