U.K. Budget Deficit Was Smallest Since Pandemic — Update
MorningStar·- The U.K. government narrowed its budget deficit to 4.3% of GDP, down from 5.2% the previous fiscal year, marking the smallest deficit since before the pandemic. - Despite a decrease in borrowing to 132 billion pounds, rising interest payments and the prolonged Middle Eastern conflict may hinder further deficit reduction and economic growth. - Treasury chief Rachel Reeves emphasized the need for fiscal restraint but expressed frustration over the geopolitical situation's impact on borrowing costs.