A number of accusations and denials have flown between the rival Labour and Conservative parties over the state of the country's budget deficit, particularly between current and former finance ministers Rachel Reeves and Jeremy Hunt. Continue Reading...
"The near-term economic downturn is set to be shorter and shallower; medium-term output to be higher; and the budget deficit and public debt to be lower. But this reverses only part of the costs of the energy crisis, which are being felt on top of larger costs from the pandemic. And ...
In order for the government to restore fiscal sustainability and return the deficit to between 1% and 2% of GDP, Potts estimated that additional tax increases or public spending cuts totaling around £30 billion ($35.6 billion) will be required. "Given th...
Now, said the Fund, it should expect -0.6% this year and 0.9% growth in 2024. 'It's bad news for the UK economy' The comments are especially awkward for the Treasury, which has been criticised by some for its plans to raise taxes and reduce the budget defici...
Whoever wins the UK's 2024 general election will face tough economic choices in the coming years. Hitting fiscal targets, such as reducing the national debt, will require a careful balancing of the books, and possibly the need for either spending cuts or tax rises. The two major parties, La...
The investment could push the UK's budget deficit past the 300 billion pound ($376 billion) mark, according to the Institute for Fiscal Studies. The figure, which is unprecedented in British peacetime history, is a far cry from previous Conservative Party agendas, w...
It is likely to add billions to Sunak's COVID-19 spending, which was already on course to top $250 billion as the UK racks up its highest budget deficit since World War II. The government will also pay cash grants, of up to $3,900 per month payable every two ...
Gross Domestic Product of United Kingdom grew 0.1% in the third quarter of 2023 compared to the previous quarter. This rate is 4 -tenths of one percent "} less than the figure of 0.5% published in the second quarter of 2023.
October 25 2024 English councils forecast £9.3bn deficit in three years, analysis shows Bennett Institute research underlines scale of strains social care placing on local government financing October 23 2024 UK Autumn Budget 2024 Reeves wraps up ‘grim’ spending talks amid council bankruptcy fears...
May 23 2023 Northern Ireland DUP vows to extend Stormont boycott until N Ireland budget is boosted Hopes of quick return to power-sharing hit as Democratic Unionists demand extra funding and guarantees over place in UK May 21 2023 News in-depthNorthern Ireland ...