Hunt Gets Room to Maneuver as UK Deficit Comes In Below Forecast
- Final figures for fiscal year leave Jeremy Hunt small windfall
- Borrowing has soared in the past year with energy subsidies
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UK government borrowing came in £13.2 billion ($16.5 billion) below official forecasts last fiscal year, leaving Chancellor of the Exchequer Jeremy Hunt modest room for giveaways ahead of the next general election.
Despite another month of huge subsidies for energy bills in March, buoyant tax revenue left the budget deficit for 2022-23 as a whole at £139.2 billion, or 5.5% of gross domestic product, the Office for National Statistics said Tuesday.