Category: Budget deficit

IFS: budget will be ‘work of fiction’ without clear plan to cover UK’s £35bn spending pressures

Thinktank’s influential pre-budget report urges key decisions to be made now and not put off until next yearJohn Healey has been warned by Britain’s leading tax and spending experts that his budget risks being a “work of...

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IFS: budget will be ‘work of fiction’ without clear plan to cover UK spending pressures

Thinktank’s influential pre-budget report urges key decisions to be made now and not put off until next yearJohn Healey has been warned by Britain’s leading tax and spending experts that his budget risks being a “work of...

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Critics of UK government’s economic forecaster are ‘shooting the messenger’, say MPs

Treasury committee rejects calls for fundamental reform of independent watchdog the Office for Budget ResponsibilityAttacks on the government’s independent economic forecaster from left and right of the political spectrum are...

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UK reports unexpected deficit of £1.8bn as John Healey prepares for first budget

July data shows total public debt was £2.98tn, or 94% of GDP – up £96bn on a year earlierBusiness live – latest updatesThe UK government ran a larger than expected £1.8bn deficit in July, underlining the challenges facing the...

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Union calls for robust review of OBR over fears it holds back economic growth

TUC will urge John Healey to order ‘root and branch’ assessment of watchdog amid claims its forecasts downplay investment benefitsThe TUC is urging the new chancellor, John Healey, to order a “root and branch” review of the...

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UK faces ‘very difficult trade-offs’ in budget because of Iran war, say analysts

Leading thinktank says higher oil prices and inflation will give Andy Burnham a ‘challenging inheritance’Andy Burnham has been warned by a leading thinktank of “very difficult trade-offs in the next autumn budget” if the Iran...

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‘There’s a risk of another Liz Truss moment’: City raises spectre of bond market meltdown again

As Keir Starmer’s leadership totters, investors warn a Labour leadership contest ignoring public finances and market realpolitik could be disastrousA rise in borrowing costs and warnings to avoid a “Liz Truss moment”. As Keir...

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Boring or bust: Reeves aims to project calm competence in spring budget

After 18 months of policy U-turns and political turmoil we are told not to expect any last-minute policy rabbitsPoliticians tend to hate being boring but Rachel Reeves will be delighted if Tuesday’s spring forecast is judged by...

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UK government borrowing falls to £11.6bn in December

Official figures better than expected after stronger receipts than a year earlierBusiness live – latest updatesThe UK government borrowed less than expected in December, official figures show, after stronger receipts than a year...

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