POST Online Media Lite Edition



 

UK public sector net borrowing lowest in 10 years

Staff Writer |
Data released by the Office for National Statistics revealed that the government borrowed the lowest amount in 10 years in February.

Article continues below






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.


What to read next

UK budget deficit widens in April
UK public sector net borrowing turns to surplus in July
UK public sector borrowing in £9.4 billion surplus last month