Thursday, February 18, 2010
Public finances - bad but not yet a blowout
Posted by David Smith at 04:00 PM
Category: Thoughts and responses

January's public finance numbers were clearly disappointing, with the first net borrowing in a January -4.3 billion -since the early 1990s, against expectations of a 2.6 billion surplus. Receipts, particularly income tax receipts, were very weak. The IFS, for one, has not given up hopes of an undershoot, however. Its analysis is here.