UK undershoots annual borrowing target by £700m
by Tom Knowles from World news | The Guardian on (#754YB)
But Iran war likely to blow hole in Rachel Reeves's carefully crafted fiscal headroom' in coming months
The UK government budget came in below its annual borrowing target by 700m, official figures show - but the Iran war is likely to blow a hole in Rachel Reeves's carefully calculated fiscal headroom" over the coming months.
The government borrowed a net total of 132bn for the financial year ending in March, the Office for National Statistics (ONS) said. This slightly undershot the 132.7bn that the Office for Budget Responsibility (OBR) had forecast just last month.
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