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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Former Craig

Former Craig

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.