On top of this the sale of 4G spectrum, supposed to raise ￡3.5 billion, netted just ￡2.3 billion.
在此之上，4G频谱的销售只实现了23亿英镑的净收益，而原计划是35亿英镑。
This bad news means that a new income stream, appearing for the first time in January, is very welcome.
这样的噩耗也意味着，新收益流在一月的首次出现大受欢迎。
Since March 2009 the Bank of England has been buying government debt, attempting to stimulate the economy through quantitative easing.
自2009年3月以来英格兰银行一直在购买政府债务，试图通过量化宽松政策刺激经济。
Because its holdings are so large the interest it receives is chunky, too (by July 2012, the bank had earned ￡24 billion on its bond-holdings, which currently stand at ￡375 billion).
由于占有数额庞大，利息也很可观（截止2012年7月，银行已经通过持有债券挣到240英镑，而债券数额目前达到3750亿欧元）。
This cash will be returned to the government, with a first payment of ￡3.8 billion, further boosting January’s income.
这笔现金会归还政府，首批支付38亿英镑，进一步促进一月的收入。
Future payments will help put revenue plans back on track.
未来的支出会帮助收益计划重回正轨。
But the biggest test of austerity is spending cuts.
但紧缩政策的最大考验是削减支出。
Here plans are more ambitious: the savings account for 85% of planned deficit reduction, according to the IFS.
相关的计划野心勃勃：据财政研究所的数据，储蓄要占到计划赤字缩减的85%。
And they have only just started: only a third of cuts to benefits and a fifth of those to departmental spending will be in place by the end of the financial year.
而一切才刚刚起步，到财政年底之前，只有救济金削减额的三分之一以及部门支出削减额的五分之一能就绪。
Over the next five years, reductions in benefits, investment and government consumption will deepen year on year, cumulatively cutting expenditure from 42% to 37% of GDP.
在之后五年，津贴、投资及政府消费的削减会步步深入，累计将支出从GDP的42%缩减到37%。
It is early days, but the signs are not good.
时候尚早，但情形并不乐观。
In December, the Office for Budget Responsibility (OBR), a fiscal watchdog, forecast that government departments would make extra cuts allowing a ￡4.5 billion underspend this year.
12月，财政监督机构英国预算责任办公室预测今年政府部门需要进一步削减45亿英镑支出。
But this week’s data confirm that spending on public services is actually likely to rise this year, so that forecast now looks optimistic.
但本周的数据证实公共服务支出可能会在今年上升，是以现在看来前景一片大好。
Overall,Britainlooks set to borrow slightly more this year than it did last year.
总体上，英国今年预计贷款会比去年略多。
The long road to a balanced budget is getting longer.
通往平衡预算的漫漫长路变得愈发漫长。
（全文共290个词）（红色标注词为考研重点词汇）
考研重点词汇：
departmental [diːpɑːt'ment(ə)l] adj. 部门的；分科的
cumulatively ['kju:mjulətivli] adv. 累积地；渐增地
slightly ['slaɪtlɪ] adv. 些微地，轻微地；纤细地
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