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UK government borrowing lowest for 11 years, according to the latest official figures



Government Borrowing has fallen to its lowest annual level in 11 years, according to the latest official figures.

 
Borrowing fell by £3.5bn to £42.6bn in the 2017-18 financial year, the Office for National Statistics (ONS) said.


That was below the estimate of £45.2bn produced by the independent Office for Budget Responsibility last month.


Borrowing narrowed to 2.1% of gross domestic product (GDP) last year, down from 10% in 2010.


However, total public debt as a percentage of GDP edged up to 86.3%, up from 85.3% the year before. In cash terms it stands at £1.798 trillion.
The figures are the first provisional estimates of the last financial year. The ONS stressed they would be revised as more data becomes available.


March's deficit was £1.3bn, well below a forecast for a gap of £3.25bn.


borrowing chart




BBC       News.


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UK government borrowing lowest for 11 years, according to the latest official figures

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