UK public sector net borrowing lowest in 10 years
UK public sector net borrowing decreased by £2.8bn in February to £1.8bn, marking the lowest February borrowing since 2007 and below forecasts for £3.2bn.
Borrowing was down £19.9bn to £47.8bn in the current financial year-to-date, compared with the same period in the previous year. This was the lowest YTD borrowing since the financial ending February 2008.
Public sector net debt excluding state-owned banks came in at 85.4% of gross domestic product, up £111.1bn or 2.3 percentage points as a ratio of GDP since February 2016. ■