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The Government of the United Kingdom borrowed abruptly strengthened in February, according to official data, adding pressure on Chancellor Rachel Reeves while preparing for his spring statement next week.
The disadvantage between state revenue and consumption was £ 10.7 billion last month, the National Statistics Office said. This is compared to a forecast of £ 6.5 billion from the Budget Liability Office, government fiscal guards and a similar projection in Reuters’ research by economists.
In the financial year until February, the deficit was £ 132.2 billion, about £ 14.7 billion more than at the same point in the previous fiscal year.
Reeves prepares for Spring statement This will introduce an extra grip on state consumption while trying to keep public finances on the trail. The chancellor has committed herself to her fiscal rules to balance the current budget, which excludes state investments, by 2029-30.
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