News in Review Wednesday 2nd February 2022
Some interesting data was released last week, which prompted speculation as to the Chancellor’s intentions regarding the rise in National Insurance Contributions (NICs) in April. The data showed that government borrowing reached nearly £17bn in December; despite this being the fourth highest December figure ever recorded, the figure was below expectations. Total borrowing in the first nine months of the 2021-22 financial year was £147bn, £13bn lower than Office for Budget Responsibility (OBR) projections outlined in the Autumn Budget.
