Commenting on the latest public sector finance figures from the ONS out today, Yael Selfin, Chief Economist at KPMG in the UK, said:
“Public sector deficit fell in May 2017, according to the latest estimates by the ONS. Since the Great Recession we have seen a period of gradual improvements, but expected headwinds are now likely to put significant pressure on public finances. A slowing economy, a potential hefty exit payment to the EU, and an eventual gradual rise in borrowing costs are all coming the UK’s way. Taken together, this may leave little room for the government to satisfy public demands for an end to austerity.”
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Notes to editor:
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