Economics
U.K. Set for $83 Billion Public Spending Boost, Goldman Says
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The U.K. government could announce an additional 60 billion pounds ($83 billion) of spending next month, using an improvement in the public finances to deliver on commitments to balance regional disparities and cut carbon emissions, according to Goldman Sachs Group Inc.
The budget deficit in the first four months of the fiscal year was running at little more than half the level a year earlier, leaving full-year borrowing on course to significantly undershoot the 10.3% of GDP forecast by the fiscal watchdog in March. The improvement is largely due to a stronger-than-expected economic recovery boosting tax revenue.