UK's OBR: UK debt to GDP ratio likely to exceed 100% soon

In a report published on Tuesday, the UK's Office for Budget Responsibility (OBR) noted that the UK's debt to GDP ratio could exceed 100% soon. 

The OBR noted that the year-to-date borrowing is lower than they have determined in the central scenario and explained that this situation was reflecting the lack of loan write-offs in data as well as stronger tax receipts.

Market reaction

The UK's FTSE 100 Index edged lower on this report and was last seen gaining 0.47% on the day at 6,290 points.