The Government has borrowed £11bn less so far this year than was predicted by the Office for Budget Responsibility
Public finances data for July proved to be stronger than previously expected, with the state borrowing a total of £4.3bn, thanks to surprisingly high tax receipts.away from his tight approach to fiscal policy, with a record-high tax take and a looming squeeze on public spending.
July’s borrowing was the fifth-highest figure since records began, according to the Office for National Statistics, with the £7.7bn spent on servicing the national debt a record high. The total pile of debt outstanding is equal to 98.5 per cent of the UK’s GDP. Mr Hunt said: “As inflation slows, it’s vital that we don’t alter our course and continue to act responsibly with the public finances. Only by sticking to our plan will weThe Chancellor is understood to be concerned that small changes to the rate of GDP growth and inflation, or hikes to interest rates by the Bank of England, could make the public finances significantly worse in future.
Belgique Dernières Nouvelles, Belgique Actualités
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