UK government borrows more than expected in March

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As the economy faced the effect of Donald Trump’s tariff, Chancellor Rachel Reeves took the orrow expected to receive Orrows in March and the entire fiscal year.

The deficit between the government’s income and expenditure was $ 8.5 billion in the last month and $ 1.5 billion in March to March, the National Statistics Office reported on Wednesday.

It compares with the £ 16 billion deficit expected by economists for March and the government’s financial surveillance, the government’s financial surveillance, $ 137.3 billion from the office to the forecast for the full financial year.

OBR warned last month that despite the recent welfare cut, the government’s “ficical headroom” – or budget house for conduct – Histor is small at £ 9.9bn.

The UK’s economic outlook has declined since then, which could further pressure tax revenue and public financing.

Like many other countries, Britain has been hit Trump’s tariffIt includes 10 percent-board responsibility and high levels on steel and cars.

On Tuesday, the IMF cut its 2021 forecast to 1.5 percent for the UK, which was less than 1.6 percent of its previous estimates, warning widespread economic disruption from trade tension. It has reduced its global growth forecast by 0.5 percent point to 2.8 percent.

This is a developing story