US EditionUK Government borrowing overshoots forecasts ahead of spring statement
- Government borrowing was £15bn higher than last year, according to the Office for National Statistics.
- The deficit in February reached £10.7bn, higher than economists' predictions, reflecting higher spending and lower tax revenue.
- Tax receipts fell £11.4bn below forecasts while borrowing surpassed expectations by £20.4bn, leading to public finances being termed 'perilous' by the Resolution Foundation.
- The amount borrowed has risen from £117.5bn last year to £132.2bn this year, as reported by the Office for National Statistics.
Insights by Ground AI
Does this summary seem wrong?
41 Articles
41 Articles
All
Left
5
Center
5
Right
7
Rachel Reeves Faces Tough Fiscal Choices Ahead of Spring Statement
The UK’s fiscal outlook has worsened since the October Budget amid higher-than-expected government borrowing, leaving Chancellor Rachel Reeves with few easy options ahead of the Spring Statement, economists have warned. Reeves will deliver a fiscal update on March 26, following the latest release of public sector borrowing figures this week. Public sector net borrowing in February reached £10.7 billion, which is £4.2 billion more than the Office…
·New York, United States
Read Full Article
Coverage Details
Total News Sources41
Leaning Left5Leaning Right7Center5Last UpdatedBias Distribution41% Right
Bias Distribution
- 41% of the sources lean Right
41% Right
L 29%
C 29%
R 41%
Factuality
To view factuality data please Upgrade to Premium
Ownership
To view ownership data please Upgrade to Vantage
