Wednesday, December 21, 2011
A borrowing undershoot?
Posted by David Smith at 05:00 PM
Category: Thoughts and responses

November's public borrowing figures were pretty good, with public sector net borrowing of 18.1 billion versus 20.4 billion a year ago. Cumulative borrowing for the April-November period (the first eight months of the fiscal year) was 88.3 billion, versus 98.7 billion.

Did the Office for Budget Responsibility jump the gun in raising this year's borrowing forecast to 127 billion in the autumn statement? I suspect it did, though its analysis is based on higher 'back-loaded' spending in the final four months of the fiscal year. We'll see. Its analysis is here.