UK Government borrowing hits 11 year low

24th July 2018

UK Government borrowing hits 11 year low

Between April and June 2018, Government borrowing fell to its lowest level since 2007, Borrowing for the financial year has so far reached £16.8bn which is £5.4bn less than the same period in 2017 according to the office for national statistics.

Public sector finances, UK: June 2018

Analysts have advised that borrowing is falling faster than predictions had indicated. Pointing to a less austere Budget.

Chancellor Phillip Hammond has previously stated that tax rises will be needed for extra NHS funding as the government remains committed to bringing down the budget deficit.

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