The economic outlook for the UK has taken a gloomy turn, with growth expected to stay below 2% over the next five years, suggesting no return to pre-crisis levels.
NHS bodies have called the chancellor’s commitments to the health service – including £10bn of capital investment by 2020 – in the Budget “disappointing”.
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.
The chancellor will use this week’s Autumn Budget to set out how the government will build 300,000 homes a year, 100,000 more than currently built each year, it emerged over the weekend.
Scottish council leaders have demanded a revenue increase of £545m to achieve “adequate and fair funding” for local government in a Budget submission to the chancellor.
The government’s aim for a budget surplus by the mid 2020s may be “no longer sensible” amid current weak economic forecasts, according to the Institute for Fiscal Studies.
