Britain runs up biggest October budget deficit in five years – business live

Central government receipts crept up just 0.4% year-on-year in October, consistent with the general evidence that the economy had a challenging start to the fourth quarter. The main evidence of the economy’s softness was in corporation tax receipts falling 6.2% year-on-year in October.

On the basis of April-October, public sector net borrowing is headed for £45.6bn in 2019/20 – which would be above a likely adjusted OBR forecast of around £41.0bn. However, it may well come in less than this because much of the overshoot has been due to higher public spending, which may be influenced by timing effects.


Read More   Wall Street edges down as tech, bank stocks weigh

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.