Government Borrowing \u00a314.6 Billion Higher Than OBR Projection <\/p>\n
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Yesterday the IMF cut the UK\u2019s growth forecast by a substantial 0.5%<\/a> before Reeves heads to D.C. today for a summit hosted by the institution. New borrowing figures<\/a> from the Office for National Statistics show just what Brits are on the hook for\u2026<\/p>\n Public sector borrowing excluding banks is \u00a3151.9 billion in the year to March \u2013 the OBR\u2019s prediction of last month was \u00a3137.3 billion for the 2024\/5 financial year. At the budget it only forecast \u00a3127.5 billion of borrowing\u2026<\/p>\n March borrowing is \u00a316.4 billion, \u00a32.8 billion higher than last year and the third highest on record. The budget deficit is \u00a312.6 billion higher than last year\u2019s twelve month period and \u00a313.9 billion higher than the OBR\u2019s forecast. Net debt is at 95.8% which \u201cremains at levels last seen in the early 1960s.\u201d When growth was about 3%\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"Government Borrowing \u00a314.6 Billion Higher Than OBR Projection mdi-fullscreen Yesterday the IMF cut the UK\u2019s growth forecast by…\n","protected":false},"author":2,"featured_media":43486,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3090],"tags":[3425,51,24235,1700,24236,15165,16,15],"class_list":{"0":"post-43485","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-borrowing","9":"tag-business","10":"tag-data-guido","11":"tag-economy","12":"tag-guido-data","13":"tag-office-for-national-statistics","14":"tag-uk","15":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114386609436058767","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/43485","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=43485"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/43485\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/43486"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=43485"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=43485"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=43485"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}