Borrowing Is On Target

After yesterday’s better than expected retail sales figures, more good news. Public borrowing in September was £14.1 billion, £1.3 billion down on a year earlier. Cumulative borrowing, at £63.5 billion, compares with £71 billion in the corresponding period of 2010-11.

Last year’s outturn was £136 billion. This year’s forecast from the Office for Budget Responsibility is £122 billion. As things stand, it is on track. More here.

This post originally appeared on David Smith’s Economics UK and is reproduced here with permission.