UK - EY ITEM Club: Stronger growth to help beat 2016/17 budget target

Ernst & Young (EY) accountants' ITEM Club, a non-governmental forecasting group, noted the following in their latest report:

The UK is likely to hit his 2016/17 deficit reduction target with 3 billion pounds to spare

Cites recent better-than-expected growth

Longer-run budget outlook "remained sombre"

The OBR will paint a marginally better picture of the UK economy and public finances in the short term, but fiscal policy faces major challenges on both the revenue and spending sides in the longer term