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Concerns Arise Over Pre-Election Tax Cuts as Government Borrowing Exceeds Predictions

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April 23, 2024
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The UK government’s plans for tax cuts ahead of the next general election have been called into question after it was revealed that borrowing in the past year was higher than expected. According to provisional estimates from the Office for National Statistics (ONS), the Treasury borrowed £120.7bn in the financial year ending March 2024, a decrease of £7.6bn from the previous year. However…

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