LONDON, Feb 21 (Reuters) – Lower income and corporation tax
receipts dragged Britain’s public finances to a much smaller
than usual seasonal surplus in January, but the government still
looks on track to meet borrowing targets ahead of its annual
Deficit reduction has been finance minister George Osborne’s
key policy since Britain’s Conservative-led coalition came to
power in May 2010 when Britain’s budget deficit was one of the
world’s largest at 11 percent of economic output.
LONDON, Feb 21 (Reuters) – Lower income tax and corporation
tax receipts dragged Britain’s public finances to a much smaller
than usual seasonal surplus in January, as finance minister
George Osborne prepares his annual budget.
Strong performance earlier in the financial year means
Osborne still looks on track for public sector net borrowing,
excluding financial sector interventions and some other one-off
effects, to fall broadly as forecast in December.
The poll was conducted shortly after Brazil announced its 2014 fiscal target; local and foreign banks and research firms participated
But a slight majority of economists, 19 of 34, say Brazil will avoid a credit downgrade this year
Brazil will not meet its newly-announced 2014 primary surplus target, according to 22 of 35 economists polled by Reuters
LONDON, Feb 20 (Reuters) – The first rise in British
interest rates is likely to come in the spring of next year, but
it could be sooner if wages rise faster than expected, a Bank of
England policymaker said on Thursday.
While the bank has stressed there is no rush to raise
interest rates, last week it suggested that expectations for a
hike in the second quarter of 2015 would be consistent with
keeping inflation at its 2 percent target.
LONDON, Feb 19 (Reuters) – Britain’s unemployment rate
unexpectedly edged up in the three months to December to mark a
first rise in almost a year, underlining a message from the Bank
of England that it is in no rush to hike borrowing costs.
The jobless rate edged up to 7.2 percent in the three months
to December compared with 7.1 percent in November, the Office
for National Statistics said on Wednesday.
LONDON, Feb 18 (Reuters) – British inflation fell below the
Bank of England’s target last for the first time in over four
years last month, reinforcing the bank’s message that there is
no rush to raise interest rates.
Consumer prices rose 1.9 percent on the year in January,
slowing from December’s rate of 2.0 percent, making it the
smallest increase since November 2009, the Office for National