Britain’s borrowing is down but it won’t affect what is shaping up to be a ‘do nothing’ Budget
Analysis: Building a war chest to cope with a no deal Brexit must, says James Moore, be the Chancellor’s priority
Some welcome news for a Chancellor whose party seems intent on tipping the economy he runs off an economic cliff: his current account is looking rather better than economists had expected.
The September gap between what he spent and the revenues he took in stood at £4.1bn, compared with £4.8bn last year and the City’s forecast of £4.5bn. The shortfall between April and September stood at £19.9bn, its lowest for 16 years.
There are those who will suggest that this gives him a little extra wriggle room ahead of his forthcoming budget, due a week on Monday.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies