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    21.10.2015 09:19 Public sector net borrowing in the U.K. declines to £8.63 billion in September

    The Office for National Statistics released public sector net borrowing for the U.K. on Tuesday. The public sector net borrowing in the U.K. fell to £8.63 billion in September from £10.80 billion in August. August's figure was revised up from £10.9 billion. Analysts had expected a decrease to £9.4 billion.

     

    Public sector net borrowing excluding public sector banks totalled £9.4 billion in September, down £1.6 billion from last year.

     

    The decline in debt was driven by higher revenues from income, VAT and corporation tax.

     

    Total debt was £1,524.1 billion in September, up £70.5 billion from last year. It was equal to 80.6% of GDP.


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