6.3 C
Lancashire
Thursday, March 28, 2024

BCC comments on public sector finances

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.”

spot_imgspot_img

Latest

The Emergence of Cryptocurrency Casinos: Exploring the Intersection of Business and Online Gambling

In recent years, the gambling industry has experienced a...

Mastering the Art of Project Tracking

Project tracking involves the thorough monitoring of every task...

Considerations to make before going to court for a PI case

Are you considering going to court for a personal...

Police appeal for information following Thornton Cleveleys vehicle fires

Detectives are investigating the cause of multiple vehicle fires,...
spot_img

Subscribe to our newsletter

Business Lancashire will use the information you provide on this form to be in touch with you and to provide updates and marketing.

Don't miss

Utopia Plates Embarks on Private Registration Trading

Utopia Plates Ltd, a trailblazer in the number plate...

Considerations to make before going to court for a PI case

Are you considering going to court for a personal...

Scott Dylan Comments the Collapse of Barclays Family Logistics Group

In a turn of events that has sent shockwaves...

Unveiling Instagram’s Most Admired Celebrity Smiles: A Study by 365 Teeth Whitening

365 Teeth Whitening, at the forefront of home teeth...

More News

How to escape the rat race and thrive in the opportunity age

Can't take any more of the work, spend, repeat cycle? Are you yearning for more freedom and flexibility in your life? Join the club! Millions...

The cubicle office: Navigating the pros and cons of workplace design

In the ever-evolving landscape of modern workplaces, the cubicle office has been a staple for decades. Designed to maximise space efficiency and provide employees with...

New Study Unveils: 49% of Small Business Owners Tied Down by Personal Guarantees

Nearly half (49%) of small business owners either act as personal guarantors for a business loan or have intentions to become guarantors by...