The Office of National Statistics has released its revised estimates for the state of public debt in 2012/2013. Its figures show borrowing is down slightly from last year:
- In August 2013, public sector net borrowing excluding temporary effects of financial interventions was £13.2 billion - this is £1.3 billion lower than August 2012 when it was £14.4 billion
- In 2012/2013, public sector net borrowing, excluding temporary effects of financial interventions, was £81.3 billion - this is £37.2 billion lower than in 2011/2012 when it was £118.5 billion
- Public sector debt, excluding temporary effects of financial interventions, was £1,193 billion at the end of August, equivalent to 74.6% of gross domestic product (GDP)
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