Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
UK public sector net borrowing totalled £20.71 billion in March, data on Tuesday revealed.
Public sector net borrowing, excluding public sector banks, totalled £21.5 billion, £16.3 billion more than in March last year.
According to the Office for National Statistics, this was the second-highest March borrowing since monthly records began in 1993.
In March, the UK central government received £81.0 billion in taxes and other income, 2.0% more than in March 2022. However, over the same period, spending increased by 17% to £104.7 billion. The ONS said this, in part, reflected the cost of the combined energy support schemes provided to households and businesses in March.
Copyright 2023 Alliance News Ltd. All Rights Reserved.