All the updated news related to government borrowing

All the news related to government borrowing updated in real time

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UK faces risk of recession from cost crunch and ballooning debt burden – OBR

Soaring energy prices and inflation threaten to tip the UK into recession while government debt levels could more than treble unless taxes are hiked, the UK fiscal watchdog has warned. The Office for Budget Responsibility (OBR) said the UK ...

07 Jul 2022 at 11:58

Government borrowing increases on energy bill support and debt interest costs

The rocketing cost of energy bills support and soaring debt interest saw UK government borrowing jump by more than £18 billion in the year to March, according to official figures. The Office for National Statistics (ONS) said the public ...

25 Apr 2023 at 12:11

Government borrowing rises but still leaves Chancellor room for tax cuts

Government borrowing increased by more than expected last month according to official figures, but left Chancellor Jeremy Hunt with headroom for planned tax cuts in Wednesday’s autumn statement. Economists said the latest borrowing ...

21 Nov 2023 at 10:46

City

Pound under further pressure as government borrowing costs keep rising

The pound has tumbled to its lowest level against the US dollar for over a year as government borrowing costs surged further, heaping yet more pressure on Labour over its fiscal plans. Sterling weakened again on Thursday morning ...

09 Jan 2025 at 09:27

City

Markets ‘orderly’ despite soaring borrowing costs, says Treasury minister

The Treasury has said UK financial markets are functioning “in an orderly way” despite the pound plunging to its lowest level for over a year after a rout in the bond markets. Government borrowing costs increased further on ...

09 Jan 2025 at 15:09

City

Government says ‘no need for emergency intervention’ in financial markets

The Government has said there is “no need for an emergency intervention” as it sought to soothe concerns over the UK’s shaky financial markets. On Thursday, the value of the pound fell to its lowest level in over a year ...

09 Jan 2025 at 17:40

City

Reeves may need to cut spending after jump in borrowing costs, say economists

The Chancellor could be forced into further tax hikes or cuts to spending plans to meet UK fiscal rules after a jump in government borrowing costs, economists have warned. State borrowing costs struck their highest ...

08 Jan 2025 at 23:34

City

We don’t need to worry about rise in borrowing costs, minister insists

A Cabinet minister has insisted there is no need to be worried about rising Government borrowing costs after yields on UK bonds surged to their highest level since the 2008 financial crisis. Speaking to ...

10 Jan 2025 at 17:41

‘Significant’ amount of Government’s borrowing ability used, report finds

The Scottish Government has used a “significant” amount of its ability to borrow money, which may constrain the choices of future governments, economists have said. The Fraser of Allander Institute ...

15 Dec 2023 at 00:01

Borrowing data offers boost to Chancellor’s tax cut plans

Chancellor Jeremy Hunt’s plans for tax cuts in Wednesday’s autumn statement have been boosted as figures showed Government borrowing was lower than official forecasts in the year to date despite a ...

21 Nov 2023 at 10:13

‘Here for the long haul’ – Reeves launches fightback following market troubles

Rachel Reeves has insisted she is “here for the long haul” in a fightback following criticism of her response to financial market turbulence. As she rebuffed critics of her economic decisions in ...

17 Jan 2025 at 14:39

Government borrowing costs rise further after Budget

Government borrowing costs leapt higher on Thursday afternoon with bond yields rising to their highest point in a year, as markets continued to digest a sharp increase in borrowing in Labour’s ...

31 Oct 2024 at 16:49

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