The government will need to adopt permanent tax hikes or spending cuts to avoid debt soaring to more than 300% of GDP by the 2070s, the Office for Budget Responsibility has warned.
High inflation is set to push the cost of servicing government debt to twice the Office for Budget Responsibility’s forecast in October, the fiscal watchdog said in its outlook accompanying the...
Chancellor Rishi Sunak has pledged there will be “absolutely no return to austerity” in the upcoming Spending Review, as the UK recovers from Covid-19.
The UK’s debt repayments will be favourable, despite risks stemming from an elevated deficit and future Brexit-related shocks, according to ratings agency Moody’s.
The UK’s economy has been weakened by significant challenges relating to Brexit, with exit from the single market set to impact medium-term growth, according to ratings agency Moody’s.
Central government bodies’ day-to-day spending rose to £86bn last month, the highest monthly total since May, according to the Office for National Statistics.
The UK’s credit rating could decrease if the Brexit free trade agreement with the European Union undermines economic performance, according to ratings agency Fitch.
The government is set to borrow a peacetime record £394bn this year, as it funds Covid-19 support measures, according to the Office for Budget Responsibility.
The financial system that emerged from separation of debit and credit in the 14th century seems to be nearing the end of its useful life, says David Kauders.
The government may need to rethink its fiscal policy strategy to account for economic shocks happening more frequently than previously assumed, according to the Office for Budget Responsibility.
A “radical economic package” should be put in place to help kick-start the economy post-coronavirus, according to a report from the Institute for Government.
Public sector net debt is forecast to rise by £125bn or 4.6% of GDP, as government embarks on the largest spending increase since 1992, according to the Office for Budget Responsibility.
