State borrowing data to cast light on task ahead for chancellor
Public borrowing figures this week will partly reveal the size of the boost needed in January to meet the government’s budget deficit target.
The government borrowed £54.3bn between April and October, with most economists expecting chancellor George Osborne to miss the £68.9bn forecast by the Office for Budget Responsibility (OBR) for borrowing in the year to April 2016. November borrowing hit £13bn last year, which is expected to fall by around £1bn.
The OBR said last month that it expects the target will be met due to a predicted jump in self-assessment tax receipts in January.
Osborne is aiming to completely eliminate the deficit by 2020, running a small surplus by that time.