Alison Ring OBE FCA, ICAEW Public Sector Director comments on the public sector finance figures for February 2021, released by the Office for National Statistics.
Responding to the public sector finance figures for February 2021, released by the Office for National Statistics, Alison Ring OBE FCA, ICAEW Public Sector Director, said:
“Today’s numbers are in line with expectations, with the deficit for the past 11 months reaching £278.8bn. This means we are on track for public sector borrowing to exceed £300bn for the full year once a potential £27bn in bad debts, that have not yet been recorded, are factored in."
“Our eyes are now focused on what possible tax measures, in addition to the planned corporation tax rise, the Government might use to start rebuilding the public finances.”