–UK Treasury Says These Are Challenging Times
–Data Show Welcome And Substantial Downward Revision In Borrowing
LONDON (MNI) – The UK Treasury today gave an upbeat verdict on the
latest set of public finance data, saying that they showed spending
trends in line with the Office for Budget Responsibility forecasts
issued at the time of the Budget.
A Treasury spokesperson also noted the data revealed a significant
downward revision to borrowing for earlier in this fiscal year and for
last year.
“These are challenging times, but despite economic growth being
lower than the OBR’s forecast earlier this year, tax receipts have
continued to grow and spending so far this year has grown at the rate
the OBR forecast in the Budget. These figures also include a welcome and
substantial downward revision to borrowing so far this year and to
overall borrowing last year.”
–London bureau: 4420 7862 7492; email: ukeditorial@marketnews.com
[TOPICS: M$BDS$,M$B$$$,MT$$$$,MABDS$]
