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Home Publications Some initial reactions to the 2009 Pre-Budget Report

Some initial reactions to the 2009 Pre-Budget Report

Mike Brewer, Robert Chote and Carl Emmerson
Press release

No Chancellor would wish to publish a forecast showing that the government will need to borrow £178 billion this year. But when you consider that the economy has shrunk more in recent months than he hoped at Budget time, an increase in the forecast deficit of just £3 billion since then actually looks like good news.