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MNI BRIEF: UK Heads For Budget Surplus; Debt/GDP At 90%

(MNI) London

The UK is on track to a budget surplus, with the latest tax hikes undoing the damage caused by the pandemic, according to the Institute for Fiscal Studies in its Green Budget, published ahead of the Oct 27 official Budget.

While the UK government currently has no fiscal target IFS Deputy Director Carl Emmerson said he suspected that it would set one based on the current budget and "in our forecast we expect the current budget to return to surplus in 2023-24 onwards." The IFS' central forecast is for debt-to-GDP to stabilise at just under 90%, but Emmerson warned that "There is a huge amount of economic uncertainty around those projections."

MNI London Bureau | +44 203-586-2223 | david.robinson@marketnews.com
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MNI London Bureau | +44 203-586-2223 | david.robinson@marketnews.com
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