Britain's budget forecasters said changes to the way that official statisticians measure borrowing would add about 20 billion pounds ($26 billion) a year to the country's budget deficit.

The Office for Budget Responsibility estimated that the deficit would stand at 33.3 pounds in 2023/24, compared with a previous estimate of 13.5 billion pounds, due to changes in the accounting treatment of student loans and corporation tax.

Britain's government had previously said it was aiming to turn its budget deficit into a surplus by the mid-2020s.