tax receipts

UK Government Borrowing Falls to 4.3% of GDP, Lowest Since Before Pandemic

UK government borrowing fell to £132bn in the year to March 2026, down almost £20bn from the previous year. The figure came in slightly below the £132.7bn forecast by the Office for Budget Responsibility. March borrowing alone was £12.6bn, the lowest for that month since 2022. Borrowing as a percentage of GDP fell to 4.3%, its lowest level since 2019-20, just before the Covid pandemic.