Friday, 20 July 2018

UK government borrowing in the April-to-June period fell to its lowest level since 2007, official figures show



Government borrowing in the April-to-June period fell to its lowest level since 2007, official figures show.

 
Borrowing for the financial year so far has reached £16.8bn, £5.4bn less than in the same period in 2017, the Office for National Statistics said.


June's borrowing figure fell to £5.4bn, which was down from £6.2bn a year ago but was slightly larger than expected.


Analysts said borrowing was falling faster than predictions had indicated, pointing to a less austere Budget.


Public sector net debt, excluding public sector banks, was £1,792.3bn, equivalent to 85.2% of GDP.
That is £33bn higher than a year earlier, but one percentage point lower as a percentage of GDP.


"Borrowing is at the lowest level for over a decade, which shows our balanced approach is working," the Treasury said in a statement.




BBC      News.