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ICAEW: Deficit better than expected but costly public sector problems emerge

Author: ICAEW

Published: 21 Sep 2023

Alison Ring OBE, ICAEW Director of Public Sector and Taxation, commented on the public sector finances release for August 2023 by the Office for National Statistics today (Thursday 21 September 2023):

“While August’s deficit was marginally better than expected, problems costly to the public sector continue to emerge, from crumbling concrete in public buildings to Birmingham Council’s recent bankruptcy, and are likely to weigh on the Chancellor’s mind as he considers November’s Autumn Statement.

“Both main parties are rightly cautious about making new public spending commitments in the current economic environment, including whether or not to extend the state pension triple lock into the next Parliament. Whether they can hold this position as they enter into the party conference season remains to be seen.”


Notes to editors:

CONTACT: ICAEW media office stephen.froome@icaew.com or 07970 402 073