NewsBot
20-Oct-23, 12:50
The Caithness Business Index (http://www.caithness-business.co.uk) has posted the following article:
Chancellor Set For Short-term Fiscal Gain, But More Long-term Pain, As He Prepares Autumn Statement
The last set of public sector finance data to be included in the Office for Budget Responsibility's Autumn Statement forecasts shows that borrowing is already close to £20 billion below the OBR's previous forecast this year, but the impact of higher interest rates will worsen the medium-term fiscal outlook, the Resolution Foundation said today (Friday 20 October 2023) Borrowing was £81.7 billion during the first six months of the financial year - £19.8 billion below the Office for Budget Responsibility’s forecast at the March Budget. Lower borrowing was driven by higher tax revenues, which were £14.7 billion above forecast, largely due to PAYE, NICs and VAT receipts. [Read Full Article (https://caithness-business.co.uk/article/21665)]
Chancellor Set For Short-term Fiscal Gain, But More Long-term Pain, As He Prepares Autumn Statement
The last set of public sector finance data to be included in the Office for Budget Responsibility's Autumn Statement forecasts shows that borrowing is already close to £20 billion below the OBR's previous forecast this year, but the impact of higher interest rates will worsen the medium-term fiscal outlook, the Resolution Foundation said today (Friday 20 October 2023) Borrowing was £81.7 billion during the first six months of the financial year - £19.8 billion below the Office for Budget Responsibility’s forecast at the March Budget. Lower borrowing was driven by higher tax revenues, which were £14.7 billion above forecast, largely due to PAYE, NICs and VAT receipts. [Read Full Article (https://caithness-business.co.uk/article/21665)]