BUSINESS LIVE: Borrowing hits £17.8bn; Herald IT faces Saba vote; EasyJet losses narrow
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Government borrowing came in far higher than expected in December as a result of debt interest and a one-off purchase of military homes, data from the Office for National Statistics shows. Public sector net borrowing of £17.8billion for the month exceeded market forecasts of £14.1billion and will put further pressure on Chancellor Rachel Reeves' commitment to her fiscal rules.
The FTSE 100 will open at 8am. Among the companies with reports and trading updates today are EasyJet, JD Wetherspoon, EnQuest and Herald Investment Trust. Read the Wednesday 22 January Business Live blog below. > If you are using our app or a third-party site click here to read Business Live.
John Moore, senior investment manager at RBC Brewin Dolphin:. 'EasyJet’s results confirm good growth in sales and an improving picture in terms of profitability – even during the traditionally slower winter period. 'This is a result of a number of measures coming together for the airline, such as route efficiency, lower fuel costs, and good load factors.
'Unlike Ryanair, easyJet has a balanced fleet by manufacturer, so the Boeing dispute shouldn’t impact it unduly. That issue, and concerns about post-Budget consumer sentiment, appear to be the only clouds on the horizon – although, forward bookings are robust and the holidays business continues to deliver strong growth.
