In a report published on Tuesday, the UK’s Office for Budget Responsibility (OBR) noted that the UK’s debt to GDP ratio could exceed 100% soon.
The OBR noted that the year-to-date borrowing is lower than they have determined in the central scenario and explained that this situation was reflecting the lack of loan write-offs in data as well as stronger tax receipts.
Market reaction
The UK’s FTSE 100 Index edged lower on this report and was last seen gaining 0.47% on the day at 6,290 points.
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