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School of Politics and International Relations

UK has worst October deficit since 2009 in blow to Osborne

Britain recorded the largest budget deficit for any October since 2009, dealing a blow to George Osborne less than a week before he issues a key fiscal statement. Osborne has also promised to use his statement next week to soften the impact of a plan to cut the cost of tax credits. "He’s either going to do something to soften the transition or offer help to those who will suffer as a result, as reneging on it is unlikely," said Professor Tim Bale. "If he’s got his eye set on moving next door, he should take heed of those voices telling him not to go that strongly on cuts."
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