Rishi Sunak's hopes of pre-election tax cuts suffered a major blow today as figures showed government borrowing coming in above forecasts.
Borrowing was £11.9billion in March, which is £4.7billion less than a year ago, but higher than the £10billion expected by most economists. The Office for Budget Responsibility had forecast borrowing of £114.1billion in the year to the end of March. He added: 'Hunt can plan for another year of unrealistically weak public spending to generate 'headroom' against his fiscal rules and thereby manufacture the funds to cut taxes.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: