The government borrowed £42.6bn in the 2017-18 financial year
The UK government borrowing has fallen to its lowest annual level in 11 years, the Office for National Statistics reported today.
Beating official forecasts, the government borrowed £42.6bn in the 2017-18 financial year — down from £46.2bn the previous year. This was below the £45.2bn forecast made by the Office for Budget Responsibility (OBR) last month.
Meanwhile, borrowing narrowed to 2.1 per cent of GDP last year, down from 10 per cent in 2010.
The figures are the first provisional estimates of the last financial year. The ONS stressed they would be revised as more data becomes available.