Borrowing – the difference between public sector spending and income – was £11.9 billion in March 2024, £4.7 billion less than in March last year. Borrowing in the financial year ending (FYE) March 2024 was provisionally estimated at £120.7 billion, £7.6 billion less than in the same twelve-month period a year ago but £6.6 billion more than forecast by the Office for Budget Responsibility (OBR). Compared with the annual value of the UK’s economy, borrowing in the FYE March 2024 was provisionally estimated at 4.4% of the UK’s gross domestic product (GDP), 0.6 percentage points less than in the same twelve-month period ... (full story)