Good news on Borrowing

New figures show that public sector borrowing has fallen to its lowest level since 2007 – demonstrating that the Conservative government's balanced approach is working.

  • ONS figures published yesterday show that public sector net borrowing in the latest full financial year was £6.3 billion less than in the previous financial year and £5.8 billion less than the Office for Budget Responsibiity predicted. This is the lowest net borrowing since the financial year ending March 2007. 
  • Our balanced approach means getting debt falling, keeping taxes low, and supporting our vital public services – and we are at a turning point, with debt due to begin its first sustained fall in a generation. 
  • Labour’s policies would see hundreds of billions added to the debt, and just like the last time they were in power, working families would pay the price through fewer jobs, higher taxes and worse public services.

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