Reeves under pressure as UK borrowing sharply exceeds forecasts
by Richard Partington Economics correspondent from on (#6W2Y5)
IFS says chancellor boxed in' by promises before spring statement as February figure is much worse than expected
Worse-than-expected public spending data has piled pressure on Rachel Reeves in the run-up to next week's spring statement, with UK government borrowing rising by much more than expected last month to 10.7bn.
In a setback for the chancellor, the monthly total - the difference between total public sector spending and income - sharply overshot a Reuters poll of experts that had predicted a deficit of 6.6bn.
Continue reading...