Public sector borrowing down £300m

Press Association

Britain's finances remain under intense pressure after figures showed annual net borrowing managed only a slight dip to £120.6 billion in the financial year to the end of March.

Public sector net borrowing was £300 million lower than a year earlier, narrowly undershooting recently revised official forecasts for £120.9 billion, the figures from the Office for National Statistics (ONS) showed. That is worse than City hopes for a £117 billion deficit in the financial year.