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UK borrowing surges past forecast, squeezing Healey's budget room

Economists assess fiscal constraints for October budget

Analysts highlight that rising gilt yields since the OBR's Spring forecast have halved Healey's fiscal wiggle room to just over £10 billion of headroom against primary fiscal rules. The government faces pressure to raise revenue through capital gains, property, and wealth taxes since PM Burnham has ruled out raising income tax, VAT, corporation tax, or social security contributions.

Economists assess fiscal constraints for October budget
Investing.com News

“The rise in gilt yields since the OBR's Spring forecast has halved Healey's fiscal wiggle room, leaving just over £10 billion of headroom against the government's primary fiscal rules”

Matt Swannell, ITEM Club

John HealeyJohn Healey Finance MinisterEmma ReynoldsEmma Reynolds Deputy Finance MinisterAndy BurnhamAndy Burnham Prime MinisterOffice for National Statistics (ONS) Official statistics agency

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Sep 23yesterdaynow · 7:10 AM ET

What was reported 2 claims about this development

  1. first by Bloomberg.com, 3d ago · also Financial Times

    1 more headline
  2. first by Investing.com News, 3d ago

All 2 developments of UK borrowing surges past forecast, squeezing Healey's… →

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