UK Office for Budget Responsibility: Public finances likely to come under significant pressure

The UK fiscal watchdog, Office for Budget Responsibility (OBR) projected that public finances are likely to come under significant pressure over the longer-term.

Key points:

   •  Without tax rises or spending cuts, the UK budget deficit likely to rise over time and put net debt on an unsustainable trajectory.

   •  Long-term outlook for public finances less favourable than last year's public finances sustainability review.