UK's economic and fiscal position remains very challenging, OBR says
SPY•The Office for Budget Responsibility said Britain's economic and fiscal position remains very challenging, citing persistently weak GDP growth, elevated government borrowing and sharply higher debt as a share of GDP.
1. Economic and fiscal outlook
The Office for Budget Responsibility said Britain's economic and fiscal position remains very challenging in its Economic and Fiscal Outlook, published alongside the government's budget. It said repeated adverse shocks since 2008 had contributed to persistently weak GDP growth and elevated government borrowing, pushing government debt as a share of GDP to a level high by recent historical and international standards.
