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Chancellor delivered a blow as government borrowing higher than forecasted

Chancellor delivered a blow as government borrowing higher than forecasted
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FTSE 100 hits record high; UK borrows £120bn last year, leaving limited scope for pre-election tax cuts– business live | Business

Rolling coverage of the latest economic and financial news

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Rising UK Deficit Spurs Borrowing Boost, Hits Tax Cut Hopes

(Bloomberg) The UK boosted its borrowing plans after the government’s budget shortfall overshot forecasts, highlighting the constraints Chancellor Jeremy Hunt faces as he eyes pre-election tax cuts. Most Read from BloombergRay Dalio’s Famous Trade Is Sputtering, Investors BailingTrump Has Only $6.8 Million for Legal Fees With Trial UnderwayZimbabwe’s ZiG Wipes Out 330% Stocks RallyBillionaire Pinaults Fight to Pull Gucci Off the Discount RackRussians Transform Dubai as They Flee Putin’s War:

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FTSE 100 Live: Index tops record; June rate cut eyes as service prices ease

FTSE 100 Live: Index tops record; June rate cut eyes as service prices ease
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Government borrowing higher than forecast as doubts raised over pre-election tax cuts

The Treasury borrowed £120.7bn in the financial year ending March 2024 - £6.6bn more than forecast by the Office for Budget Responsibility only a month ago.

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