Budget 2004: Net borrowing to drop
Net borrowing this year has been kept below 4% of GDP and is set to drop according to chancellor Gordon Brown.
Link: Budget 2004
In 2003/04 net borrowing is expected to be 3.4% or £37.5bn, with figures for the following year at 2.8% or £33bn. Future years will see borrowing at 2.5%, 2.1% 1.9% and 1.6%.