Market comment

UK public finances continue to outperform


This morning’s UK public finance figures show borrowing now £11bn below official forecasts in the first four months of the Budget year 2023/24. This could raise expectations for income tax cuts heading into the next general election. However, Jeremy Hunt has precious little room for manoeuvre. Also, tomorrow’s preliminary PMI survey could well show UK GDP growth starting to falter having held up far better than expected in H1 2023.

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Aug 22 2023, 08:25 IST/BST