British government borrowing and expenditure ignores expectations, tax hikes or expenditure pressure | Money News

Government spending and borrowing ignored the expectations of “dangerous” public finances and put pressure on the tax to raise taxes or reduce spending.

According to the official figures, the government's borrowing last month was £ 150 billion more than last year, and the deficit was higher than the predicted deficit than economists.

The National Statistical Office said the gap between what the government is taking and spending was £ 10 billion in February.

This is the fourth highest since the record began in 1993, with £ 4.1 billion pounds than the economists who participated in the poll.

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The tax was lower than the estimates provided by the independent predictor by the budget officer (OBR).

Tax receipts are currently 11.4 billion pounds higher than 11.4 billion pounds from OBR forecast for 11 months in fiscal year.

Last year, the government plucked £ 115 billion, but the figure soared to £ 132.2 billion, according to ONS data with £ 15 billion.

Tax rising and reductions in spending will come in the future.

This is an unpleasant news before Rachel Reeves updates the health of the British economy in the spring statement.

The surplus reported last month was modified up to £ 2.1 billion to exacerbate the painting.

Public finances were described as “dangerous” in the “dangerous” state by the respected Thinktank the Resolution Foundation.

Other economic observers said the news would mean spending reduction and tax increase.

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Analysts predict that Pantheon Macro will be cut in the statement next spring, and the tax increase will be announced in October.

This feeling was reversed by the Foundation. “If the economy does not turn the corner, the tax increase will soon begin again.”

Government reaction

In response to this figure, the Minister of Finance, Darren Jones, said:

“The core of this urgent mission is a sound public finances based on our impossible negotiations. This government will not be fast and loose by public finances.”

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