This morning’s ONS release shows that borrowing in the first nine months of 2023-24 totalled £119.1 billion, £11.1 billion above the same period last year. This is £4.9 billion below the monthly profile consistent with our November forecast, largely due to lower than expected inflation reducing debt interest payments.
January 23, 2024 – 150.43 KB
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Year-to-date borrowing moves below our forecast
January 23rd, 2024 | Monthly public finances release
This morning’s ONS release shows that borrowing in the first nine months of 2023-24 totalled £119.1 billion, £11.1 billion above the same period last year. This is £4.9 billion below the monthly profile consistent with our November forecast, largely due to lower than expected inflation reducing debt interest payments.
Commentary on the public sector finances – December 2023