Borrowing hit a five-year high in August, casting further gloom over the economic outlook and piling pressure on the chancellor to raise taxes at the Budget.
The Office of Budget Responsibility has responded to the latest IMF assessment of the UK’s public finances which included a cautious endorsement of the government’s economic strategy, describing...
The latest borrowing figures show the “clear risk” run by the government in adhering to its fiscal rules despite the uncertainty of official forecasts, analysts have warned.
A better-than-expected outlook for public finances is likely to give chancellor Jeremy Hunt headroom for tax cuts ahead of the general election, an economist has said.
