The UK budget deficit widened sharply in June, data from the Office for National Statistics showed Tuesday. Public sector net borrowing rose by GBP 6.6 billion from the previous year to GBP 20.7 ...

The government's fiscal watchdog, the Office for Budget Responsibility, separately added this week that U.K. public finances are in a relatively vulnerable position and facing mounting risks.

Indeed, the independent Office for Budget Responsibility still assumes Reeves' move will raise £2.7 billion in extra taxes a year by 2028-29.

Back in March, the independent Office for Budget Responsibility said that it expects the U.K. to record 1% growth this year and 1.9% in 2026.

Indeed, the independent Office for Budget Responsibility still assumes Reeves' move will raise £2.7 billion in extra taxes a year by 2028-29.

Earlier this week the official forecaster, the Office for Budget Responsibility (OBR), said Britain faced "daunting" risks, including the possibility that levels of government debt could soar to ...