Budget Boost for Britain

The U.K. chancellor is likely to receive a filip from official figures next week

U.K. Chancellor of the Exchequer Philip Hammond is set to receive a much-needed boost next week when the Office for Budget Responsibility is expected to predict faster growth and lower borrowing than it did in November. Back then, a sharp downgrade to the productivity outlook cast serious doubt over Hammond’s fiscal target. The budget deficit in the current fiscal year may come in as much as 10 billion pounds ($13.8 billion) lower than what the OBR predicted four months ago, which would leave it the narrowest in a decade.

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