Net borrowing 4.7 bln pounds less than in March 2023 (Il Sole 24 Ore Radiocor) - London, 23 Apr - In March, UK public sector net borrowing was 11.9 billion pounds, 4.7 billion less than in March last year, according to the Office for National Statistics (ONS).

Net borrowing in the financial year ending March 2024 was provisionally estimated at 120.7 billion pounds, 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 financial year to March 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 a year ago.

Public sector net debt excluding public sector banks (debt) at the end of March 2024 was provisionally estimated at 98.3% of GDP, or 2.6 percentage points more than at the end of March 2023, and remains at levels last seen in the early 1960s.

Excluding the Bank of England, debt was 89.4% of GDP, 8.9 percentage points lower than the wider debt measure.

Public sector net worth excluding public sector banks was in deficit by 709.3 billion pounds at the end of March 2024, a 95.8 billion larger deficit than at the end of March 2023.

Central government net cash requirement (excluding UK Asset Resolution Ltd and Network Rail) was 28.3 billion pounds in March 2024, 3.2 billion more than in March 2023, and brings the total for the financial year to March 2024 to 158.8 billion pounds.

AAA-Web

(RADIOCOR) 23-04-24 08:34:20 (0173) 5 NNNN