The Office for Budget Responsibility has predicted UK GDP could fall by as much as 35% in the second quarter of this year, due to the coronavirus outbreak.
The Debt Management Office is set to auction a record £45bn in gilts this month, in order to help finance the government’s response to the coronavirus pandemic.
The coronavirus pandemic is on course to cause the deepest recession in the UK since the financial crisis of 2008, according to the Centre for Economics and Business Research.
Dickensian debtors prisons are a thing of the past, but outdated debt collection practices still risk driving the most financially vulnerable into further difficulty. Victor Smart reports.
Councils and other government bodies are “over-zealous” and “uncompromising” in the way they pursue financially vulnerable people over unpaid debt, MPs have said.
Government borrowing increased by £500m to £8bn in October compared with this time last year, while the national debt increased by £147.8bn, according to official figures.
UK public finances recorded their first surplus for the month of July since 2002, as the government brought in an extra £0.2bn, Office for National Statistics figures have shown.
The chancellor can expect borrowing figures to be lower than expected when the Office for Budget Responsibility makes its forecast ahead of the spring Budget, the EY Item Club has said.
Government departments and local authorities are among the worst offenders when it comes to the unfair treatment of people in problem debt, according to debt charity StepChange.
Debt servicing costs are increasing across local government, and now account for at least 9.9% of revenue expenditure in a quarter of single-tier and county councils, according to the National Audit...
Public sector borrowing is £14bn lower in the eleven months of the financial year to date compared to 2014/15, according to the latest figures from the Office for National Statistics, with the...
Full devolution of business rates to local authorities is set to lead to an increase in council debt levels as they look to borrow to invest in business development, Moody’s has concluded.
Public sector borrowing fell by more than £6bn in the first quarter of 2015/16 compared to the same three months in the previous year, the Office for National Statistics announced today.
Debt as a proportion of national income is to start falling, allowing Chancellor George Osborne to meet the fiscal target he set five years ago, he said today.
The Labour Party has signed up to the coalition’s public spending limits for 2015/16. But this is based on a false consensus on the meaning of debt, deficits and the UK’s monetary position
