Public bodies could face pressure from growing direct costs alongside impacts from inflated prices for third party suppliers, according to the Office for National Statistics.
Councils received £700m more than they spent last year, down 90% on the 2021-22 surplus, while the overall public sector deficit fell by more than a half.
Government borrowing in the financial year to date is around 25% lower than previously forecast, as the Covid-19 recovery continues, according to the Office for National Statistics.
The UK economy shrank by 1.5% in the first three months of this year, although GDP started to recover as Covid-19 restrictions were eased, according to the Office for National Statistics.
The UK’s GDP shrank by 2.9% in January, as Covid-19 restrictions and European Union import disruptions reduced economic activity, according to the Office for National Statistics.
The UK economy continued its recovery in July as GDP rose by 6.6% month-on-month, the third consecutive month of growth following April’s record GDP fall of 20%, according to the Office for National...
Ratings agency Moody’s has warned that it could downgrade the UK’s credit rating if it fails to provide a credible debt reduction strategy following Covid-19.
UK GDP contracted by 2% in the first quarter of this year, the biggest drop since the 2008 financial crisis, according to statistics from the Office for National Statistics.
UK GDP failed to grow in the three months to October because of falls in the manufacturing and construction industries, according to data released by the Office for National Statistics.
Earnings have grown faster in Scotland than in the rest of the UK over the past year, raising hopes that the Scottish economy could be boosted by higher than anticipated income tax revenues.
Public sector borrowing in the first eight months of the financial year is £7.7bn lower than in the same period of 2015-16, according to the latest figures published by the Office for National...
Public sector borrowing for August decreased by £0.9bn to £10.5bn compared with the same month last year, according to the Office for National Statistics.
The UK public sector received more in taxes and other income than it spent to record a surplus of £1bn in July, according to official figures released today.
The unemployment rate in the UK in the second quarter of 2016 was the lowest in more than a decade, according to figures from the Office for National Statistics released today.
