Hammond gets budget boost as borrowing falls to lowest level since 2007

Government borrowing in September fell to its lowest level since 2007, giving Chancellor Philip Hammond a dose of good news ahead of his budget later this month.

Public sector net borrowing, excluding state-owned banks, fell by £800 million in September to £4.1 billion, the Office for National Statistics said on Friday.

This was the lowest September borrowing since 2007 and better than the £4.5 billion economists had expected.

The ONS said borrowing in the financial year to date was £19.9 billion, which is £10.7 billion less than in the same period in 2017.

ECONOMY Borrowing
ECONOMY Borrowing