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- UK March public sector net borrowing +£0.8 billion vs +£0.4 billion expected
UK March public sector net borrowing +£0.8 billion vs +£0.4 billion expected
According to the report from Office for National Statistics, borrowing in the latest full financial year (April 2018 to March 2019) was £24.7 billion, £17.2 billion less than in the previous financial year; the lowest financial year borrowing for 17 years (April 2001 to March 2002).
Borrowing in the latest full financial year was £1.9 billion more than the £22.8 billion forecast by the Office of Budget Responsibility (OBR) in its Economic and Fiscal Outlook – March 2019.
Borrowing (public sector net borrowing excluding public sector banks) in March 2019 was £1.7 billion, £0.9 billion more than in March 2018; with March 2018 remaining the lowest March borrowing since 2006.
Debt (public sector net debt excluding public sector banks) at the end of March 2019 was £1,801.0 billion (or 83.1% of gross domestic product (GDP)); an increase of £22.1 billion (or a decrease of 1.5 percentage points of GDP) on March 2018.
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