Economic Indicators, Budget update
Recent data show unemployment rose to its highest level since 1994 in the three months to January and CPI inflation increased to 4.4% in February (compared with average earnings growth of 2.3%). Meanwhile, public finance statistics show that for the first 11 months of fiscal year 2010/11 the government borrowed nearly 10% less than in the same period of 2009/10. As a result, full-year borrowing in 2010/11 is likely to be less than the OBR’s November forecast of £149 billion. For more information see the Library’s background briefing to the Budget. Following the Budget an additional Library briefing will be available
Recent data show unemployment rose to its highest level since 1994 in the three months to January and CPI inflation increased to 4.4% in February (compared with average earnings growth of 2.3%). Meanwhile, public finance statistics show that for the first 11 months of fiscal year 2010/11 the government borrowed nearly 10% less than in the same period of 2009/10. As a result, full-year borrowing in 2010/11 is likely to be less than the OBR’s November forecast of £149 billion. For more information see the Library’s background briefing to the Budget. Following the Budget an additional Library briefing will be available