Government borrowing falls to 17 year low

Government borrowing has fallen to its lowest level since 2001 – showing that the Conservatives' balanced approach to the economy is working.



Key facts: 

  • Government borrowing has fallen to its lowest level in 17 years, according to the Office of National Statistics. 
  • A rise in receipts from income tax, national insurance contributions and capital gains tax has helped lower net borrowing. 
  • In the ten months to February, borrowing was £23.1 billion which is £18 billion less than the same period last year and the lowest financial-year-to-date borrowing at this stage since April 2001 to February 2002. 

Why this matters: 

These figures show how far we’ve come in repairing the public finances. We’re taking a balanced approach, investing in public services and keeping taxes low, while getting debt falling.

Comments

Jim said…
getting debt falling? are you serious? we only borrowed £23.1 billion. that is anything but a balanced approroach, and it sure as hell is not a sustainable one.

5:40 pm
Chris Whiteside said…
Getting debt falling is the aim. If we can continue to turn things around at the present rate we will get there.

I agree that even with this improvement the government is still borrowing more than I would like to see.
8:59 am
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