#government-borrowing

#government-borrowing

The UK's public finances are deteriorating at speed and history shows that when the Treasury faces a fiscal crunch, pensioners are treated as low-hanging fruit. From post-war retrenchment to the stealth pension taxes of the 1990s and the allowance freezes of the past decade, successive governments have repeatedly tapped retirement savings to fill the gap. They typically see pensions as 'low hanging fruit', and there's every reason to expect a repeat in November.

There is a lot of dramatic commentary on this but I wouldn't exaggerate the 30-year bond rate, he said. It's a number that gets quoted a lot. It's quite a high number. It is actually not a number that is being used for funding at all at the moment.

Government borrowing came in well below expectations in July, offering some short-term relief to chancellor Rachel Reeves as she prepares her autumn budget. Public sector net borrowing totalled £1.1 billion last month, the Office for National Statistics (ONS) said - less than half the £2.6 billion forecast by economists and below the Office for Budget Responsibility's (OBR) £2.1 billion projection.