Government Borrowing Falls

The Telegraph reports that the Government borrowed £52bn in the last financial year, a fall of £20bn compared to the year before, as the long struggle to eliminate the deficit moved closer towards its goal. That amounts to 2.6pc of GDP, the lowest level of borrowing since 2007-08.

The fall in the deficit is bigger than analysts forecast a year ago by the Office for Budget Responsibility.

For why are the figures better than forecast?

Strong economic growth, unexpected by the fear mongers!