The UK government review exceeds expectations in the past fiscal year

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The UK government overlooks expectations in March and in the full fiscal year, on a setback for Chancellor Rachel Reeves, where the economy faces the impact of Donald Trump’s tariff.

The National Statistics Office said on Wednesday that the shortage of government and spending income was 16.4 billion pounds last month and 151.9 billion pounds in 12 months to March.

This compares with a shortage of 16 billion pounds sterling expected by economists in March. The full fiscal year was 20.7 billion pounds more than the same period of 12 months in the previous year and 14.6 billion pounds more than expectations of 137.3 billion pounds by the budget responsibility office, which is to monitor the financial government. It was also the third highest level of borrowing ever for the full fiscal year.

Darren Jones, the main secretary of the Treasury, said that the government “is going through every penny of taxpayers spent on a line, for the first time in 17 years to tear waste.”

“We focus on the laser to ensure that taxpayer money provides our plan for the tasks of change to put more money in people’s pockets, rebuild NHS and enhance our borders.”

Mel Strad, shadow consultant, accused Rivs of “mobilizing financial rules” and increasing borrowing by 30 billion pounds annually.

“These interesting sums are paid by diligent people through high taxes, high prices and high mortgage rates.”

“The numbers showed that the general borrowing was exceeding OBR expectations even before the influence of identification chaos was.”

She added: “This raises opportunities that if the advisor wants to stick to her financial rules, then more tax increases in the autumn budget will be needed.”

The chief economist Grant Vitzner said that the preliminary estimates of Watchdog indicate that despite a “big” batch of income, the public sector borrowing increased by about 21 billion pounds in the fiscal year, “to a large extent due to the costs associated with inflation, including increased wages and benefits.”

At the end of March, he said: “The debts remained close to the annual value of the production of the economy, at the levels that were last seen in the early 1960s.”

OBR warned last month that despite the recent discounts in social welfare, the government’s “financial head hall” – or the budget room for maneuver – remained historically small at a price of 9.9 billion pounds.

Since then economic expectations have deteriorated in the United Kingdom, which may lead to further pressure on tax revenues and public financial resources.

Like many other countries, Britain was hit Trump’s tariffWhich includes duties of 10 percent comprehensive and higher levels of steel and cars.

On Tuesday, the International Monetary Fund It reduced its growth expectations for the year 2025 for the United Kingdom To 1.1 percent, a decrease from its previous estimation of 1.6 percent, with a widespread economic disturbance warning of commercial tensions. Its global growth forecast has reduced by 0.5 degrees Celsius to 2.8 percent.

Additional reports by George Parker in London