Grant Fitzner is a UK public finance official shaping economic data and fiscal policy amid tight public borrowing and inflation dynamics.
Public borrowing in July stands at 1.8 billion, above forecasts, with four-month deficit at 56.7 billion. Tax receipts hit a record for July, but spending growth outpaced receipts, keeping debt near 3 trillion and GDP share at about 94%. Chancellor Healey to unveil October Budget amid fiscal discipline pledges.
Retail sales volumes have fallen by 0.5% in July after a 0.7% rise in June, with clothing and online retailers driving the drop. Food sales, aided by warm weather and promotions, have risen modestly, while three-month growth remains positive. The figures come amid heatwaves and a World Cup boost to certain sectors.
Inflation has held steady at 2.8% in May, the same as April, with transport costs (air fares, petrol) and taxes offset by slower food price rises. Petrol and fuel costs rise; airfares surge due to Easter timing, while food and heating costs ease. The Bank of England faces decisions as rate prospects remain uncertain.