Hunt says UK's fiscal headroom will reach 8.9 bln stg by 2028/29

Britain's Office for Budget Responsibility (OBR) has forecast fiscal headroom for the government of 8.9 billion pounds ($11.3 billion) at the end of the current five-year forecast period, finance minister Jeremy Hunt said on Wednesday.

Britain's Office for Budget Responsibility (OBR) has forecast fiscal headroom for the government of 8.9 billion pounds ($11.3 billion) at the end of the current five-year forecast period, finance minister Jeremy Hunt said on Wednesday. Fiscal headroom shows how much room for manoeuvre Hunt has within his tax and spending plans, measuring the money his own budget rules allow for either more giveaways to voters or to set aside for a future downturn.

In November, the government's budget watchdog said Hunt had 13 billion pounds of fiscal headroom after the measures he announced in a budget update that month. ($1 = 0.7863 pounds)