BusinessCompany NewsBudget 05: Britain’s fiscal borrowing down

Budget 05: Britain's fiscal borrowing down

UK borrowing at lowest levels since the early nineties.

Britain’s fiscal borrowing has hit the lowest levels since the early 1990s. Borrowing for 2005 will be £34bn compared with the £90bn recorded at the beginning of the previous decade.

The UK’s deficit as a percentage of national income is now 2.6%, better than the figures recorded in the US, Japan and mainland Europe.

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