Category Archive: Home

The budget deficit continued to fall in May, with year-to-date borrowing of £35.9 billion down £6.4 billion on last year. But it was £6.4 billion above our most recent forecast profile. This overshoot reflects both lower receipts and higher spending – with debt interest spending in the year to date a fifth higher than forecast…

The budget deficit continued to fall in April 2022, with borrowing of £18.6 billion down £5.6 billion on last year and just £0.6 billion below our most recent forecast profile. By contrast the more timely data from cash receipts were particularly strong, up 18.5 per cent on last April and £6.4 billion (10.2 per cent)…

The pandemic caused the deepest recession in the UK in living memory, prompted the largest fiscal policy response outside the World Wars, and has, so far, been followed by an unusually rapid economic recovery. The past two years also reshaped welfare spending and can be expected to continue to do so. So this year’s Welfare…

Our latest Economic and fiscal outlook will be published today alongside the Chancellor’s Spring Statement. It will set out forecasts for the economy and the public finances, and an assessment of whether the Government is likely to achieve its fiscal targets.