- Slightly below the 127B expected
- Total borrowing over 5 years will be £11B less than forecast 6 months ago
- Next year’s borrowing forecast 120B
- Next year’s deficit will fall to 7.6% of GDP
- UK net debt will peak at 76.3% of GDP in 2014-25, Osborne says
- Will consult on 50-year gilts and perpetual gilts (Osborne bonds?)
- UK looking to double exports this decade
UK bonds are rallying a bit on the commitments to austerity.