UK budget deficit rises more than expected in March, full fiscal year - Breaking The News
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UK budget deficit rises more than expected in March, full fiscal year

Economy
Christian Baha / JG

1 min read

EPA-EFE/NEIL HALL

Data from the Office for National Statistics showed Tuesday that the UK borrowing deficit soared more than expected in March and for the entire year.

According to the report, the budget deficit totaled £120.7 billion in the 12 months to March, down from £128.3 billion on a yearly basis. For March, the public sector net borrowing came in at £11.9 billion, £4.7 billion less than last year. Nevertheless, the number was higher than the £10.2 billion anticipated by analysts.

The report comes at an important moment as Prime Minister Rishi Sunak prepares for a general election later this year, possibly in October.

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