"The government borrowed £12.6bn last month, the lowest March total since 2022 and £1.4bn below the same month a year earlier. The drop was driven by a sharp fall in debt interest spending and a bumper £100bn haul in tax receipts."
"Despite the monthly improvement, March's figure came in above the £10.4bn consensus forecast from City economists. Borrowing over the full financial year reached £132bn - £700m below the Office for Budget Responsibility's projection, but still the sixth-highest annual total since records began in 1947."
"The headline reduction was flattered by a dramatic fall in debt interest costs, which dropped to £3.2bn in March from £13bn in February and £4.5bn in the same month last year."
In March, Britain's government borrowing decreased to £12.6bn, the lowest for that month since 2022, aided by reduced debt interest spending and increased tax receipts. Despite this positive trend, business leaders express concern over the impact of the escalating Middle East conflict on fiscal plans. The annual borrowing total reached £132bn, slightly below projections but still among the highest since 1947. The reduction in borrowing was significantly influenced by a drop in debt interest costs and a reliance on outdated retail price index measures.
Read at Business Matters
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