The Caithness Business Index has posted the following article:

Lower Tax Receipts Leave Borrowing Higher Than Forecast - And No Signs Of Extra Wriggle Room To Fuel Another Pre-election Budget

[IMG][/IMG] UK borrowing over the last fiscal year (2023-24) was £7.6 billion lower than last year, but £60 billion higher than the year before the pandemic and, critically, £6.6 billion higher than the Office for Budget Responsibility's forecast at the Spring Budget last month, the Resolution Foundation said today (Tuesday). The higher than forecast borrowing was driven by lower than expected tax receipts, down over £7 billion on the OBR’s latest forecast, though they were still over £65 billion up on the year before as a result of high inflation and rising taxes. [Read Full Article]