UK budget deficit is forecast to be higher than expected

Public sector net borrowing, outturns and select forecasts for the UK

Public sector net borrowing, % of GDP

Resolution Foundation forecast (Oct-22)

15%

Forecast

10

5

0

-5

2000

2005

2010

2015

2020

2025

Public sector net borrowing, % of GDP

Resolution Foundation forecast (Oct-22)

15%

Forecast

10

5

0

-5

2000

2005

2010

2015

2020

2025

Guardian graphic. Source: Resolution Foundation analysis of Bank of England, Monetary Policy Report and Yield Curves; OBR, Economic and fiscal outlook; ONS, Consumer price inflation; BEIS, Weekly Fuel Prices; Cornwall Insight; ICE; HMT