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Tagged: government spending
- BusinessGovernment Cash Buffer May Have Halved; Potential Funding Options ExploredAccording to BBC UK, the government's cash buffer, which helps meet fiscal rules and reduce borrowing, may have decreased from approximately £24bn to as low as £11bn over the last six months, partly due to increased interest payments on private borrowing. The Chancellor, John Healey, may need to raise funds to restore this buffer, while facing pressure to fund defense spending and address the cost of living, despite Labour's 2024 manifesto pledges.5 min
- BusinessAudit Office Shifts From Past Overpayments to Real-Time ChecksKaieteur News reported that Auditor General Deodat Sharma said earlier overpayments had been recovered or cleared, or contractors had completed their work. The Audit Office is moving toward real-time checks of grants and pensions, alongside engineering training and three approved positions.1 min
- BusinessBurnham’s pension overhaul promises savings but risks political backlashThe prime minister plans to replace the triple lock’s annual earnings guarantee with a lower-cost formula, linking increases to inflation or 2.5% while maintaining the pension’s share of earnings over time. The change would help fund a national social care service.2 min