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UK Borrows £11.7bn in November, Exceeding City Forecasts

The UK government borrowed more than forecast in November, underlining the fragile state of the public finances ahead of Chancellor Rachel Reeves’s autumn budget, according to official figures. Data from the Office for National Statistics (ONS) showed public sector net borrowing, the gap between spending and income stood at £11.7bn last month. Although this was […]

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Resolution Foundation: £20bn tax rises needed to stabilise UK finances

The Chancellor should protect workers’ take-home pay while levelling the tax system, including a 2p cut in employee National Insurance (NI) funded by a 2p rise in Income Tax (IT) according to major new research from the Resolution Foundation. The think tank says the shift would raise £6 billion in a Budget expected to require