UK borrowing tumbles to lowest level in four years.

27 Apr

Figures published by the Office for National Statistics (ONS) have revealed that UK borrowing has fallen to its lowest level in four years.

According to the data, the government borrowed £12.6 billion in March, which proved to be the lowest figure for the month since 2022.

Experts say the drop can be attributed to a decline in debt interest spending and £100 billion in tax receipts.

However, the latest figure is above the £10.4 billion forecasts developed by leading economists.

James Murray, Chief Secretary to the Treasury, commented: 'Our deficit is down [by] £19.8 billion because of our plan to cut borrowing. In a volatile world, the decisions we are taking are the right ones to keep costs down, take back our energy security and cut borrowing and debt.'