Finance minister Rishi Sunak (pic) will unveil new budget and growth forecasts on Oct 27, as well as new multi-year spending limits for individual government departments and potentially some longer-term fiscal goals.
LONDON: British public borrowing declined by less than expected in August, according to government figures, highlighting the hefty ongoing costs of the Covid-19 pandemic and a rise in debt interest payments as inflation picked up.
Public sector net borrowing, excluding state-controlled banks, fell to £20.5bil (US$28bil or RM118bil) in August, down 21% from August a year earlier, but well above economists’ average £15.6bil (RM90bil) forecast in a Reuters poll.
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