UK government borrowing hit £10.7bn in February, while airline shares tumble due to transport disruption caused by a fire near Heathrow airport
UK borrowing rises to £10.7bn in setback for Rachel ReevesBorrowing overshoot will test Rachel Reeves’s resolve on tax rises
Borrowing overshoot will test Rachel Reeves’s resolve on tax rises
February’s public finances data, published on Friday, is only likely to make Rachel Reeves more convinced that she needs to take action at next Wednesday’s spring statement.
The fire in Heathrow is having a big effect on the airline sector in Europe and elsewhere.
IAG, the owner of BA and Iberia, is down more than 3%, while KLM-Air France is also lower by 1.5% so far.
The disruption caused by the Heathrow closure for the entire day on Friday is huge, but it will be temporary, and we expect airline stocks to stabilise after an initial knee jerk sell off.
The airline sector is fragile now, due to concerns about a US recession and a weak global consumer.
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