But Iran war likely to blow hole in Rachel Reeves’s carefully crafted fiscal ‘headroom’ in coming months Business live – latest updates The UK government came in below its annual borrowing target by £700m, official figures show – but the Iran war is likely to blow a hole in Rachel Reeves’s carefully calculated fiscal “headroom” over the coming months. The government borrowed a net total of £132bn for the financial year ending in March, the Office for National Statistics said. This slightly undershot the £132.7bn that the Office for Budget Responsibility (OBR) had forecast just last month. Continue reading...