Sharp rise in borrowing set to limit Autumn Statement giveaways

Lower tax receipts and other factors are likely to prompt a sharp upwards revision in borrowing forecasts at this week's Autumn Statement, analysts have warned.

While growth is expected to rise, Chancellor George Osborne (pictured) is likely to need to borrow more than previously expected, not least in 2014. The government is estimated to borrow £86.6bn this year but analysts predict the final figure could be as much as £100bn due to weak wage growth and the falling oil price. The Office for Budget Responsibility (OBR) is expected to raise its borrowing forecast for the year by between £5bn-£10bn as a result. In a particularly bleak outlook, UBS said the total upwards revision to borrowing figures for 2014 and future years could be as much...