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UK Borrowing Overshoot Hits £20 Billion in Blow for Reeves - BLOOMBERG
By Andrew Atkinson and Philip Aldrick
Chancellor of the Exchequer Rachel Reeves is set to overshoot her borrowing forecasts significantly for the current fiscal year, highlighting the fragile state of the UK’s public finances ahead of a key economic statement next week.
The budget deficit in the first 11 months climbed to £132.2 billion ($171 billion) — £20.4 billion more than the Office for Budget Responsibility predicted in October. Borrowing in February alone was £10.7 billion, above the expectations of the OBR and economists.