Menu
23/04/2014
Budget Deficit Falls By 6% In 2013
The UK budget deficit has fallen to its lowest level since the financial crisis five years ago, with borrowing down to £6.7bn in March, compared to £11.4bn for the same period the previous year.
According to newly released figures from the Office for National Statistics (ONS) the government borrowed £107.7bn in the 12 months to the end of March.
The latest figures exclude the impact of the Royal Mail pension scheme which was privatised in October and showed a drop in the deficit of 6.42%, from £115.1bn the year before.
It was slightly lower than forecast by the Office for Budget Responsibility, in the March Budget delivered by the Chancellor George Osborne.
The ONS also said the Britain's net public sector debt currently stands at £1.27bn, which equates to 75.8% of gross domestic product (GDP).
The Eurostat, the European Union's statistical agency, said European governments recorded lower budget deficits in 2013 and for the whole EU, the agency said deficits contracted from 3.9% to 3.3%.
(CVS/MH)
According to newly released figures from the Office for National Statistics (ONS) the government borrowed £107.7bn in the 12 months to the end of March.
The latest figures exclude the impact of the Royal Mail pension scheme which was privatised in October and showed a drop in the deficit of 6.42%, from £115.1bn the year before.
It was slightly lower than forecast by the Office for Budget Responsibility, in the March Budget delivered by the Chancellor George Osborne.
The ONS also said the Britain's net public sector debt currently stands at £1.27bn, which equates to 75.8% of gross domestic product (GDP).
The Eurostat, the European Union's statistical agency, said European governments recorded lower budget deficits in 2013 and for the whole EU, the agency said deficits contracted from 3.9% to 3.3%.
(CVS/MH)
Related UK National News Stories
Click here for the latest headlines.
14 June 2010
UK Growth Forecast Cut
The new fiscal watchdog has downgraded the UK's economic growth predictions. The Office for Budget Responsibility (OBR) has forecast that the economy will expand 2.6% in 2011, down from the 3% to 3.5% estimated in Labour's March Budget.
UK Growth Forecast Cut
The new fiscal watchdog has downgraded the UK's economic growth predictions. The Office for Budget Responsibility (OBR) has forecast that the economy will expand 2.6% in 2011, down from the 3% to 3.5% estimated in Labour's March Budget.
23 March 2012
BT Pay £2bn Into Pension Fund
BT has announced it will £2 billion into its pension fund as part of a plan to clear its deficit. The telecoms group say the £2bn injection, the first step of a nine-year plan, will almost half its current deficit of £4.1bn. The deficit has already been reduced from £9bn recorded in 2008.
BT Pay £2bn Into Pension Fund
BT has announced it will £2 billion into its pension fund as part of a plan to clear its deficit. The telecoms group say the £2bn injection, the first step of a nine-year plan, will almost half its current deficit of £4.1bn. The deficit has already been reduced from £9bn recorded in 2008.
25 March 2011
BBC Confirms Pension Deficit Figures
The BBC has confirmed the official deficit figures for the staff pension scheme. Management's proposals for addressing the deficit sparked a major dispute with staff in 2010. The BBC advised senior officials from BECTU and the NUJ that the official deficit figure in the corporation's scheme stands at £1.
BBC Confirms Pension Deficit Figures
The BBC has confirmed the official deficit figures for the staff pension scheme. Management's proposals for addressing the deficit sparked a major dispute with staff in 2010. The BBC advised senior officials from BECTU and the NUJ that the official deficit figure in the corporation's scheme stands at £1.
10 July 2012
ONS Say UK Headed For Worst Trade Deficit In Four Years
The Office for National Statistics has said that the UK is heading for its biggest trade deficit since the worst of the financial crisis in 2008, despite official figures showing the situation improved in May. Several economists have also discounted a rise in manufacturing production in the same month, arguing that the trend remained downwards.
ONS Say UK Headed For Worst Trade Deficit In Four Years
The Office for National Statistics has said that the UK is heading for its biggest trade deficit since the worst of the financial crisis in 2008, despite official figures showing the situation improved in May. Several economists have also discounted a rise in manufacturing production in the same month, arguing that the trend remained downwards.
08 February 2005
Bush budget seeks to control US deficit
US President George Bush has presented his 2006 budget to Congress as he seeks to cut domestic expenditure faced with a record deficit of $427 billion. Mr Bush's proposed $2.
Bush budget seeks to control US deficit
US President George Bush has presented his 2006 budget to Congress as he seeks to cut domestic expenditure faced with a record deficit of $427 billion. Mr Bush's proposed $2.
-
Northern Ireland WeatherToday:After a dry start this morning rain will spread from the northwest across all parts. This afternoon will be dull with some patchy rain and drizzle. Becoming much milder through the afternoon. Maximum temperature 11 °C.Tonight:A cloudy evening and night with a little light rain or drizzle, perhaps some clear periods developing along the east coast. A very mild night everywhere. Minimum temperature 10 °C.
