UK Deficit Hits Post-Financial Crisis Low

Government borrowing fell by £20bn to £52bn in the year to the end of March, according to official data.

That was the lowest level since the financial crisis of 2008, the Office for National Statistics (ONS) said.

In Chancellor Philip Hammond’s Budget last month, the Office for Budget Responsibility had forecast the deficit would be slightly lower at £51.7bn.

The OBR also predicted that government borrowing would rise again this year as tax receipts fall.

BBC

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.