PwC comments on latest public finance data

Published at 10:22 AM on 21 October 2015

Commenting on the latest public finance data, John Hawksworth, PwC chief economist, said:

"After poor public finance data in August, the Chancellor will take some cheer from today's data showing that public borrowing in September was down by £1.6 billion on last year, while earlier borrowing estimates for the April to August period were also revised down by £1.4 billion.

"This favourable £3 billion swing gives the Chancellor a good chance to meet the OBR's forecast that public borrowing will fall to just under £70 billion this year, although much still depends on a bumper set of income tax receipts coming through in January. "The budget deficit is still uncomfortably high, however, so we would not expect any let up in planned spending cuts in the Autumn Statement next month."

ENDS

1. For more information contact Amy Tiernan, PwC media relations, 020 7804 0556 or [email protected]

 


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