UK government borrows more than expected as debt costs surge

Quick Summary

However, on Wednesday, it announced a £10bil (RM54bil) increase for pensioners next year, in a sign of the pressure it is under.

In March, the OBR predicted a further decline to 3.9% in the current fiscal year, but that projection is now looking optimistic.

The budget deficit stood at £14bil (RM75bil), £2bil (RM10.7bil) higher than economists had forecast.

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Author / Journalist: The Star Online

Category: Economy

Topics: Government UK Recession Economy /Business/Business News Rishi Sunak Inflation

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-24, 00:00:00

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Reading Time: 4 minutes read

Article Length: 582 words

Coverage Area: Malaysia

Availability: Desktop Web, Mobile Web

News ID: 6514

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About The Star Business

Main Topics: Economy

Official Website: thestar.com.my

Update Frequency: 18 posts per day

Year Established: 1971

Headquarters: Malaysia

News Last Updated: 1d ago

Coverage Areas: Malaysia

Ownership: Independent Company

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Publisher ID: #22

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