Tuesday, February 22, 2011
Public finances getting better
Posted by David Smith at 10:15 AM
Category: Thoughts and responses

When you are borrowing well over 100 billion a year these things are relative but there are clear signs of improvement in Britain's public finances, which will comes as a huge relief to the Treasury, and the coalition. It isn't that long since forecasters were predicting 2010-11 borrowing to be worse than 2009-10.

As it is, January saw the public finances back in the black for the first time in two years, 3.7 billion on the public sector net borrowing measure. VAT helped but other underlying revenues were also stronger. Cumulative borrowing in this fiscal year of 113 billion compares with 127.2 billion in the corresponding period of 2009-10. More here.