UK borrowing for fiscal year blows past official forecasts

Paul Dales, an economist at Capital Economics, said that, based on the latest data, the government would have to raise £28bn in the Budget, mostly through taxes.

Paul Dales, chief UK economist at Capital Economics, said: “We think the upside inflation risks are just too high for the Bank of England to cut interest rates [on Thursday] or, more significantly, at...

Paul Dales, economist at Capital Economics, said: “The economy is still struggling to gain decent momentum in the face of the drag from previous hikes in taxes and possible further tax rises to come...