United Kingdom

UK Government Borrowing Fell in 2012-2013

According to revised estimates

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Government borrowing fell in the 2012-13 fiscal year after all, the latest official estimate suggests.

Public sector net borrowing, excluding the cost of interventions such as the Royal Mail pension transfer, was revised down to £116.5bn.

It means that total borrowing actually fell, by £2.1bn, from the year before, contrary to a previous estimate in May.

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