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.
Economists’ predictions for the contraction in the UK’s GDP following Covid-19 became more pessimistic in August, according to the latest independent forecasts published by the Treasury.
Public sector net borrowing in the UK in April was £5.8bn – £0.03bn less than in April 2018. This represents the lowest April borrowing figure since 2007, official statistics have revealed.
Public sector net borrowing for the financial year ending March 2017 has decreased by £20bn to £52bn compared to the previous financial year, according to the latest figures from the...
Chancellor Philip Hammond welcomed a more optimistic immediate outlook for the economy and public finances as he revealed the latest Office for Budget Responsibility economic forecasts.
Public sector borrowing has increased in the first two months of 2016-17, despite large reductions in grants from Whitehall to local authorities, according to figures from the Office for National...
Chancellor George Osborne has been warned that the government could miss its deficit target for 2015/16 by as much as £7bn after public sector borrowing for November increased by £1.3bn compared to...
The Office for Budget Responsibility increased its forecast for government borrowing this year due to the reclassification of housing associations as part of the public sector, but has predicted a...
The triple lock on state pensions needs to end as it will become “prohibitively expensive”, Institute of Fiscal Studies director Paul Johnson has argued.
The public finances will be put under pressure over the next 50 years due to the ageing population, the government has been warned, with demand for healthcare and pensions set to increase spending by...
The head of the Institute for Fiscal Studies has called on George Osborne to set out where his planned £12bn in welfare cuts would fall in the first two financial years of the next parliament.
Shadow chancellor Ed Balls has claimed that Conservative spending plans for after the election imply £70bn worth of cuts will need to be made to public services in the next parliament.
Public sector borrowing in December was £2.9bn more than in the same month last year due to a controversial payment the government had to make towards the European Union’s budget, it has been...
Business leaders are urging the government to boost the living standards of low earners by raising the National Insurance threshold and expanding the provision of free childcare and maternity pay.
The Office for Budget Responsibility should be given an expanded remit to help hold the government to account on its policies to tackle poverty, the Joseph Rowntree Foundation has said today.
