Commenting on the public sector finances for June published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC) said:  “Although slightly smaller than feared, these figures confirm the grim state of our public finances. We are still heading towards a deficit of £175 billion this financial year, in line with the Chancellor’s forecast.  “It would be wrong to tighten policy while the recession continues, but maintaining Britain’s international credibility requires a robust plan for restoring our public finances over the medium-term. This must focus on curtailing public spending across the board, while avoiding damaging measures that would harm wealth-creating businesses.”