Annual rise in govt borrowing

Government borrowing increased slightly in the last financial year. The Office for National Statistics revealed it rose by around £300m to £118.8 billion. But public sector borrowing for last month was lower than expected last month at £8.8 billion.

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Government 'taking tough decisions' to deal with deficit

A Treasury spokesman said the ONS figures show 'borrowing is lower than was previously predicted'. Credit: Chris Ratcliffe/PA Wire

The Treasury said the Government is "taking tough decisions to deal with the deficit" following the release of public sector borrowing figures by the Office for National Statistics.

A spokesman said: "Today's data shows that borrowing is lower than was previously predicted.

"As the Chancellor said this week: the economy is healing; the deficit is down by a third; inflation is down by almost half from its peak; and more people are in private sector employment than ever before".

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