Treasury borrowing on track to overshoot forecasts by £63bn [Yahoo! Finance]
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Source: Yahoo! Finance
The Office for National Statistics (ONS) said today that public sector net borrowing, excluding banks, in the 11 months to February overshot projections by the Office for Budget Responsibility (OBR) by more than £20.4bn. The Treasury has borrowed £132.2bn so far this financial year, the ONS said, compared to OBR estimates alongside the October Budget that it would be £111.8bn. The Institute for Fiscal Studies (IFS) said this would likely mean that over the whole financial year Treasury borrowing could come in at £151bn, which would be £23bn more than the OBR's October forecast. However, it said the figures mean that public sector borrowing could come in £63bn higher than the OBR's forecasts a year ago, before Labour won last year's general elec
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