Tuesday, November 22, 2011
Public finances on track
Posted by David Smith at 02:00 PM
Category: Thoughts and responses

The assessment by the Institute for Fiscal Studies of the latest public finance numbers is here. Borrowing last month, 6.5 billion, was 1.2 billion lower than in October 2010. Within this, as the IFS points out, both revenues and spending were weaker than expected.

There is some uncertainty about what happens for the rest of the year. So far at least, however, the government appears broadly on track to meet the Office for Budget Responsibility's 122 billion borrowing forecast for 2011-12. There may even be a modest undershoot. The official release is here.