Spring budget 2017: drop in government borrowing predicted

Forecasts likely to be cut by cumulative 29bn between 2015-16 and 2020-21 but sustainability issues remain, says thinktank

Solid economic growth and strong tax receipts since the Brexit vote have put Philip Hammond on course to announce a drop in government borrowing when he presents his spring budget next week, a leading thinktank has predicted.

The Resolution Foundation said it would be the first time since March 2014 that a chancellor could stand at the dispatch box and announce borrowing will be lower - not higher - than previously thought.

Related: UK government surplus gives Philip Hammond pre-budget boost