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.