UK deficit to heighten pressure on chancellor ahead of budget
by Richard Partington from on (#36EHE)
Fresh analysis reveals 20bn gap between government spending and tax receipts, says Institute for Fiscal Studies
Fresh analysis that reveals a hole of almost 20bn in the public finances will heighten the pressure on the chancellor, Philip Hammond, ahead of next month's budget.
Britain is on track for the deficit - the gap between government spending and tax receipts - to reach 36bn by 2021-22, more than twice the initial official forecast of 17bn, according to the Institute for Fiscal Studies (IFS).
Related: Bank of England poised to push interest rates back up to 0.5%
Related: How the actual magic money tree works
Related: Sparkling employment figures mask real picture of UK economy
Continue reading...