Britain's Borrowing Outlook Darkens As Energy Shock Deepens

Britain's Borrowing Outlook Darkens As Energy Shock Deepens Via City AM, The OBR says it underestimated the fiscal damage from the 2022 energy shock and will apply those lessons to the latest Middle East-driven price surge. Higher oil and gas prices could increase UK borrowing through debt interest, welfare payments, and pressure on departmental budgets. The Bank of England has warned that a severe energy shock could push inflation above 6% and force tighter monetary po...