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BCC comments on public sector finances

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Commenting on the public sector finances for November 2016, released today by the Office for National Statistics, Suren Thiru, Head of Economics at the British Chambers of Commerce (BCC), said:

“Government borrowing in November, while higher than expected, was still marginally lower in annual terms. Despite the slight improvement, debt levels remain unsustainably high.

“2017 is likely to be a challenging period for the UK’s public finances, with economic growth likely to soften, which will hamper the UK’s ability to generate tax receipts.

“The more flexible approach to deficit reduction announced in the Autumn Statement is a sensible step given the broader uncertainty. However, the acid test for the Chancellor’s new fiscal rules will be whether they are able to reverse the ongoing shortfall in tax revenue, which has persistently hampered previous attempts to reduce the deficit.”

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Andrew Mann
After 34 years working in numerous operational and communications disciplines for three FTSE companies (Yorkshire Electricity; Meggitt and BAE Systems), at over a dozen locations, on 24 November 2016, I became the inaugural editor of Business Lancashire. Business Lancashire is a good news, Lancashire focused, business website and daily newsletter. It is a partnership between The Samuel James Group and the North and Western Lancashire Chamber of Commerce. Over the years, I have written hundreds of press releases, features for trade magazines, copy for websites and brochures, edited in-house magazines and newsletters, as well as presenting a radio programme on Chorley FM. This experience has given me the ideal background for editing Business Lancashire.