UK Government Borrowing Falls to 4.3% of GDP, Lowest Since Before Pandemic
Borrowing fell to £132bn in year to March, down almost £20bn from previous year and slightly below OBR forecast
En resumen
- 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.
Resumen generado por IA
Por qué importa
UK government borrowing surged during the Covid-19 pandemic as spending increased to support businesses and households. The figures released mark a return to pre-pandemic borrowing levels as a percentage of GDP.
UK government borrowing fell by almost £20bn last year, according to the latest official figures. Borrowing, the difference between spending and income from taxes, was £132bn in the year to March, the Office for National Statistics said. The total was slightly below the £132.7bn that had been predicted by the government's independent forecaster, the Office for Budget Responsibility (OBR). The ONS said borrowing in the month of March was £12.6bn. This was £1.4bn less than a year earlier, and lowest March borrowing since 2022. The ONS said borrowing fell to 4.3% of GDP in the year to March - its lowest level since 2019-20, just before the Covid pandemic.
Preguntas abiertas
- Will borrowing continue to fall in the current financial year?
- How will government spending plans be affected by the reduced borrowing?
- What is the outlook for debt servicing costs?
