UK: Focus on public finances today – RBC CM

Research Team at RBC Capital Markets, suggests that for UK’s government borrowing in October, RBC looks for an outturn of £6bn, a little higher than their tracker would suggest on account of the tendency for the deficit to have struggled so far to keep to the path intended at the start of the financial year.

Key Quotes

“The OBR has already acknowledged that there is little chance of meeting the full-year deficit target of £55.5bn anyway, as borrowing already stands at £45.2bn at the halfway point. We will find out more from the OBR later in the week, though, when the government’s Autumn Statement on the Budget is delivered.”