Chancellor Hails Unexpected Reduction in Public Sector Borrowing
Borrowing beat forecast by £0.7 billion.
Tax receipts offset rising spending, lowest decline since 2022-23.
March borrowing was £12.6 billion, a £1.4 billion year-on-year decrease.
Annual borrowing as a share of GDP reached lowest level since 2019-20.
Chancellor Rachel Reeves called data 'unexpected good news.'. Treasury chief James Murray said deficit reduction shows borrowing plan works.
Analysts warn improvement may be short-lived due to Iran war raising energy prices.
Rising fuel costs, called 'Trumpflation,' could force increased household support.
2 days ago