UK deficit overshoots forecasts by £4.1bn; consumer confidence lifts – business live
UK government borrowing hit £10.7bn in February, while the GfK Consumer Confidence Index rose to -19 from -20 in MarchGood morning, and welcome to our rolling coverage of business, the financial markets and the world economy.The health of Britain’s public finances is being closely watched in both Westminster and the City of London, just days before chancellor Rachel Reeves is due to deliver her spring statement on 26 March.Although they will have no impact on the fiscal update next week, the significant overshoot in borrowing in February highlights the Chancellor’s tight fiscal backdrop. The OBR will still most likely conclude that the chancellor’s headroom against her fiscal rules has been wiped out.So we expect her to announce further non-defence spending cuts, on top of the welfare cuts already unveiled earlier this week.3pm GMT: Eurozone consumer confidence (preliminary) for March10:30am GMT: Russian interest rate decision Continue reading...
UK government borrowing hit £10.7bn in February, while the GfK Consumer Confidence Index rose to -19 from -20 in March
Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.
The health of Britain’s public finances is being closely watched in both Westminster and the City of London, just days before chancellor Rachel Reeves is due to deliver her spring statement on 26 March.
Although they will have no impact on the fiscal update next week, the significant overshoot in borrowing in February highlights the Chancellor’s tight fiscal backdrop. The OBR will still most likely conclude that the chancellor’s headroom against her fiscal rules has been wiped out.
So we expect her to announce further non-defence spending cuts, on top of the welfare cuts already unveiled earlier this week.
3pm GMT: Eurozone consumer confidence (preliminary) for March
10:30am GMT: Russian interest rate decision Continue reading...
