UK borrowing gives more wiggle room to Hunt before election

NATIONAL borrowing for August came in under official forecasts today, in the latest positive sign for the UK's finances, which was likely to add to calls for tax cuts.

- Michael Hunter

The public sector net borrowing requirement for the month hit £11.6 billion according to the Office for National Statistics. That was less than the £13 billion expected by the Office for Budget Responsibility.

It came with Chancellor of the Exchequer Jeremey Hunt due to unveil his set-piece Autumn Statement on the Government's tax and spending plans on November 22. He has ruled out tax cuts this time around, but as the news on the economy has improved in the run-up to the speech, there are growing hopes for action in the Budget due in March.