Public finances improve

By Michael Burton and Laura Sharman | 21 July 2021

The public finances improved last month as economic activity picked up though debt remains at a record high, according to latest figures from the Office for National Statistics.

Total borrowing for the year ending March 2021 was £298bn or 14.1% of gross domestic product (GDP) but this was still £30bn less than the forecast by the Office for Budget Responsibility (OBR).

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