Government borrowing lower than forecast
Thursday, 21 April 2011
The amount borrowed by the UK government during the 2010-11 financial year was lower than forecast, data from the Office for National Statistics has revealed.
Figures released by the body showed total borrowing for the 12 months to April 1st 2011 came in at £141.1 billion, lower than the £145.9 billion that has been predicted by the Office for Budget Responsibility in its March 2011 Economic and Fiscal Outlook.
The amount was also down year-on-year - from £156.5 billion in 2009-10 - and net borrowing in March 2011 also dipped when compared to the same figure from 2010 - down from £19.8 billion to £18.6 billion.
Falls in public sector borrowing may be welcomed by those in finance jobs who are concerned about the state of the UK economy and chancellor George Osborne has also predicted public borrowing will drop again this financial year to around £122 billion.
Mr Osborne made the announcement in the recent Budget, which also saw the tax allowance raised for UK employees.
