ITEM Club predicts Budget day double whammy for Chancellor

THE Chancellor is facing a double whammy of bad news when he delivers his Budget speech this week.

According to the Ernst & Young ITEM Club, the latest economic forecast from the Office for Budget Responsibility (OBR) is likely to reveal a £8bn borrowing overshoot in 2012/13 and a further downgrade to UK growth.

The Ernst & Young ITEM Club’s Budget special report says that weak income tax receipts, disappointing revenues from the sale of the 4G spectrum and the ONS’s limit on the value of QE proceeds that ... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...