'Chancellor set to face winter woe'
economy: The underlying health of the public finances will remain problematic for the Chancellor, despite an expected improvement in Government borrowing, experts have warned.
Public sector net borrowing, excluding financial interventions such as bank bailouts, is expected to drop to £13.9bn for September, compared with £14.4bn last year.
A slight improvement in overall economic activity in September will have helped tax receipts, despite mounting pressure on the public purse as Government spending still outweighs tax receipts.
Howard Archer, chief UK and European economist at IHS Global Insight, said the Chancellor faces a "problematic" autumn statement in December as borrowing looks set to overshoot the £120bn target for 2012-2013 by at least £15bn.
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