According to analysts at TD Securities, UK’s budget was broadly in line with the March Update as in spite of higher revenues, net borrowing figures were left largely unchanged on the back of higher spending commitments, with £140bn borrowing expected over the next five years, versus £147bn in March. Key Quotes “The deficit/GDP ratio is broadly unchanged from the Spring Update, falling to 0.8% in 2023/24 from 1.9% in 2017/18.” “As a share of GDP, the debt is expected to fall from 85% in 2017/18 to about 74% in 2023/24. The profile is about 3ppt lower in 2022/23 than the Spring Update, in part due to the strong positive revenue shock this year, and slightly stronger economic growth over the forecast.” “The OBR’s economic growth forecasts were revised up a notch, but remain weak on a historical basis. Growth next year was upgraded to 1.6%, while growth beyond sits around 1.5%, a hair weaker than the BoE’s latest August forecast.” “Budget was short on major policy announcements, as the UK government sees through the final months of Brexit negotiations.” “Assuming successful passage, the government’s attention will soon return to Brexit, with a further push toward a deal on the UK side, and a revised proposal on the Irish border backstop soon likely from the EU.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Economists cut China GDP estimates as trade war trumps stimulus – Bloomberg survey FX Street 4 years According to analysts at TD Securities, UK's budget was broadly in line with the March Update as in spite of higher revenues, net borrowing figures were left largely unchanged on the back of higher spending commitments, with £140bn borrowing expected over the next five years, versus £147bn in March. Key Quotes "The deficit/GDP ratio is broadly unchanged from the Spring Update, falling to 0.8% in 2023/24 from 1.9% in 2017/18." "As a share of GDP, the debt is expected to fall from 85% in 2017/18 to about 74% in 2023/24. The profile is about 3ppt lower in 2022/23 than the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.