Our sectors
 
We worked with Saleslogic and they swiftly delivered upon our requirements - highly recommended. Education Manager - Software Company

Darling meets borrowing forecast

08 May 2008

The Chancellor has met his Budget borrowing forecasts but economists have warned of tougher times ahead for the public finances. Net borrowing of £35.6bn in the year to March was below the £36.4bn he predicted in hsi first Budget in March - but £5.5bn more than in the previous 12 months, figures from the Office for National Statistics (ONS) showed. Some analysts feel this year's borrowing target of £43bn is going to come under pressure as a slowing economy impacted tax revenues. Howard Archer, chief UK economist at Global Insight, said: "The bad news is that the public finances in March were significantly weaker than a year ago and Mr Darling looks increasingly unlikely to be able to achieve his fiscal targets for 2008/09 given the deteriorating economic outlook." Mr Darling has based his forecasts on growth of between 1.75% and 2.25% this year, although most economists have taken a gloomier view of the UK's prospects this year. Copyright © PA Business 2008

 

News Articles

Vacancy Search





Featured Positions