Posts Tagged ‘borrowing’
UK borrowing falls in May
The Office for National Statistics (ONS) has today revealed UK public sector borrowing fell slightly last month. According to the ONS, public sector borrowing fell to £15.15 billion last month compared with £16.46 billion in May last year. The figure was lower than analysts’ expectations of £15.75 billion and was attributed to an increase in [...]
UK economic recovery to remain sluggish
Recovery of the UK economy is to remain sluggish, with GDP growing by 1.4% in 2011 and by 2% in 2012, the National Institute of Economic and Social Research (NIESR) predicts. Growth this year will be constrained by government spending cuts and a squeeze on household finances resulting from higher taxes and rising inflation. According [...]
OBR reviews growth, borrowing, inflation and unemployment
The Office for Budget Responsibility (OBR) has today delivered its forecasts for British public borrowing, economic growth, inflation and unemployment. The independent OBR, which was set up by the coalition Government to assess the state of public finances, lowered its 2011 economic growth forecast to 1.7% from its previous estimate of 2.1%. The latest estimate [...]
Report reveals £8bn windfall for Government
A report by the Ernst & Young Item Club has suggested the Government could be in line for an £8 billion windfall this year due to a rebound in tax revenues and a cut in public spending. The Item Club is estimating public borrowing for the financial year to the end of March to be [...]
UK public sector finances see surplus in January
The Office for National Statistics (ONS) has today revealed UK public sector net borrowing switched to a surplus in January – boosted by a sharp increase in income tax receipts and corporation tax inflows. According to the ONS, public sector net borrowing registered a surplus of £3.735 billion – representing the biggest surplus since July [...]