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Bethany Beckett, UK economist at Capital Economics, has looked at what the chancellor might do tomorrow.

Notwithstanding the deterioration in the public finances in February, large revisions to the back data mean that borrowing in 2021/22 is on track to undershoot the OBR's October 2021 forecast by a huge 23bn.

Even so, we suspect the sharper rise in debt interest costs in February than many expected may embolden the chancellor to keep a fairly tight grip on the public finances in tomorrow's spring statement.