The Office for Budget Responsibility (OBR) forecast that public sector net borrowing (excluding public sector banks) will be £58.3 billion during the financial year ending March 2018, an increase of £12.6 billion on the outturn net borrowing in the financial year ending March 2017. Public sector net debt (excluding public sector banks) was £1,785.3 billion at the end of September 2017, equivalent to 87.2% of gross domestic product (GDP), an increase of £145.2 billion (or 4.4 percentage points as a ratio of GDP) on September 2016.
Public Sector Net Borrowing decreased by £2.5 billion
Public sector net borrowing (excluding public sector banks) decreased by £2.5 billion to £32.5 billion in the current financial year-to-date (April 2017 to September 2017), compared with the same period in 2016; this is the lowest year-to-date net borrowing since 2007. Public sector net borrowing (excluding public sector banks) decreased by £0.7 billion to £5.9 billion in September 2017, compared with September 2016; this is the lowest September net borrowing since 2007.
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