UK public borrowing to undershoot target by 'significant margin' - OBR
Reuters
Published Feb 21, 2018 14:30
UK public borrowing to undershoot target by 'significant margin' - OBR
LONDON (Reuters) - British public borrowing is likely to undershoot forecasts made in November by a big margin, potentially pointing to lower borrowing in future years, the country's budget watchdog said on Wednesday.
"Overall, it now looks clear that borrowing in 2017/18 will undershoot our November forecast by a significant margin," the OBR said in a statement after January data showed borrowing for the year to date was 16 percent lower than in 2016/17.
However, figures for the financial year ending in March are unlikely to show such a sharp year-on-year decline, the OBR added.
The OBR forecast in November that borrowing would rise slightly to 49.9 billion pounds in 2017/18 from 45.7 billion pounds a year before.
A stronger budget outturn for 2017/18 might prompt downward revisions to borrowing for future years, the OBR said, adding it would update its forecasts when finance minister Philip Hammond publishes a budget update on March 13.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.