The borrowing problem

Chris Dillow

Chris Dillow
The borrowing problem

Chancellor George Osborne will probably have to forecast even higher borrowing in next Wednesday's Autumn Statement. Ruth Lea, economic advisor to Arbuthnot, believes public sector net borrowing this year could overshoot its Budget forecast of £91.9bn by £11bn. And the IFS expects borrowing forecasts for the next five years to be revised upwards, causing the Chancellor to have to miss his target of reducing the debt-GDP ratio in 2015-16.

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