Public borrowing down to £6.3bn

Press Association

Public sector borrowing dipped to £6.3 billion in April to give the Government breathing space in attempts to slash the deficit.

The Office for National Statistics (ONS) said underlying public sector net borrowing, excluding financial interventions such as bank bailouts and a transfer of Royal Mail, was down from £8.9 billion a year earlier.

The figure was better than the £8.5 billion economists had forecast and was coupled with a downward revision to the deficit for the last financial year, to £119.5 billion from its earlier £120.6 billion estimate.%VIRTUAL-SkimlinksPromo%