The British government borrows excessive shirt expectations

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According to the official figures, the British government exaggerated the expected expectation in February.

The National Statistical Office said last month's lack of government income and spending was 10 billion last month. This was compared with similar projections in the investigation of 65 billion people in the office, government financial watchers and Reuters economist surveys for budget responsibility.

Reeves attempts to track public finances and is preparing a spring statement that will lead to additional pressure on government spending. The superintendent pledged to balance the current budget except investments by 2029-30 in accordance with the fiscal rules.

However, the weak state of the economy and public finances is expected to indicate that the prediction of OBR requires additional expenditure. The government announced a 5 billion welfare savings plan a year and is expected to disclose new pressure on department spending on Wednesday.

James Smith, the economist of ING, said that cost reduction has been surprised by the growth of the UK so far and has been surprised by the growth of England this summer. British public finances are increasingly operated with better margins.

Alex Kerr, Capital Economics, said that the February overstet for loans is softer than expected receipts and higher expenditures, and the government has obtained a huge overstet for the current budget deficit in the current fiscal year.

He added underlined how difficult the choice was. [Reeves] It will be the face of the next few years.

In the fiscal year until February, the deficit was 1.32 billion, which was about 14 billion more than the same fiscal year. This was much higher than the prediction of 11.18 billion people by OBR in October 2024.

MARK DOWDING, the chief investment officer of RBC Bluebay Asset Management, said that oversterts are not surprising that their growth is weaker and higher in borrowing than OBR predictions.

The OBR of October is expected to be 2 % for this year's GDP growth, but weak outputs will be drastically reduced next week. In February, the British Bank predicted 0.75 %growth in 2025.

The British government bonds have weakened in Friday morning transactions, lowering other large markets and raising 10 -year returns to 0.03 percentage points to 4.68 %.

Pooja Kumra, the strategist of TD Securities, suggested that this figure is a maximum of 2 billion people's demand for central government funding than the current official expectations, which can mean more debt sales in 2025-26 fiscal years.

According to Friday Friday's increase on Friday, investors are worried that ultimately all the gaps will be covered with more issuance, she added.

suggestion

At the end of February, the proportion of GDP's net government debt was estimated at 95.5 %, according to the ONS release, which is 0.1 percentage points higher than a year ago.

Reeves exited the first budget in October. The current deficit rules were opposed to 99.9 billion, but they disappeared by increasing the cost of government borrowings and flattening growth.

The gold leaf investors warned that the headroom should be rebuilt to show that the prime minister is organizing British public finances.

Reeves argued that next week's announcement will not form a major financial event. Officials said there would be no tax increase.

But under pressure, including the need to increase defense spending and repair public services, economic scholars warned that the Congress could take measures to increase additional income for the parliament.

Daren Jones, the finance minister, said: We focused our public sectors in our mission project, and for the first time in 17 years, we had a line of taxpayers' fenny one by one and helped to secure the future for British people through the change plan.

At the core of this urgent mission is a sound public finances according to the impossible negotiation rules.

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