Government borrowing in the April-to-June period fell to its lowest level since 2007, official figures show.
Borrowing for the financial year so far has reached £16.8bn, £5.4bn less than in the same period in 2017, the Office for National Statistics said.
June's borrowing figure fell to £5.4bn, which was down from £6.2bn a year ago but was slightly larger than expected.
Analysts said borrowing was falling faster than predictions had indicated, pointing to a less austere Budget.
Public sector net debt, excluding public sector banks, was £1,792.3bn, equivalent to 85.2% of GDP.
That is £33bn higher than a year earlier, but one percentage point lower as a percentage of GDP.
"Borrowing is at the lowest level for over a decade, which shows our balanced approach is working," the Treasury said in a statement.
Softer plans?
Over the financial year to March 2019, the Office for Budget Responsibility (OBR), which produces the official government forecasts, expects the public sector to borrow £37.1bn.
That amounts to about one-quarter of what it borrowed in 2009-10, at the peak of the financial crisis.
However, Samuel Tombs, chief UK economist at Pantheon Macroeconomics, said borrowing was falling faster than the OBR had expected, indicating that Chancellor Philip Hammond had room to change course in the Autumn Budget.
He added: "Borrowing still should come in comfortably below the OBR's forecast this year; we look for borrowing of about £33bn, equal to 1.6% of GDP.
"Since the chancellor's target merely is to reduce cyclically-adjusted borrowing to below 2% of GDP by 2020-21, he has scope to scrap the remaining austerity measures planned for the next two years.
"Given that the Conservatives now lag Labour in the opinion polls and Brexit must be seen to be a success, we see no reason why the chancellor wouldn't opt to soften his plans in the Budget later this year."
The EY Item Club agreed, saying the chancellor "may have more room for manoeuvre in November's Budget as he looks to find the extra funding needed for the increased spending promised for the NHS".
Mr Hammond has previously stated that tax rises will be needed for the extra NHS funding, as the government remains committed to bringing down the budget deficit.
source: www.bbc.com
Lies You've Been Told About Bussiness Template
Up in Arms About Bussiness Template?
Our template is extremely simple to customize! The template also has absolutely free PDF documentation with FAQs and a lot more. The 26-page template can be readily edited to add your own details. If you're looking for absolutely free responsive event website template then you stumble in the perfect spot.
The Dirty Truth on Bussiness Template
Business proposals can take on various names. After that, explain just what methods and approaches you'll apply to offer a solution in your organization proposal. If it gets little lengthy, providing a table of contents might help. What's more, some projects seemingly utilize fake names and photos to create their offerings seem more legitimate. They also seemingly have the option to establish large reserves or create more tokens on demand, which is not necessarily a good thing. There are only a few projects which really need their very own token, but nevertheless, it would not be possible to host an ICO without having a token to provide. Unfortunately, there are a couple of ICO projects out there which don't have any working code at the right time of their crowdsale.The templates arrive with latest 2017 design trend for all types of business. It's simple to start at any template and convert it to suit your company requirements. You desire a well-designed template that may be customized for your organization, industry and market. Meanwhile, you may download our totally free employee schedule template and use this to organize your staff shifts better.
You only have to select a template and put in your contact information (name of the business, your name, position, phone numbers, e-mail, etc). It's hard to locate a template which doesn't only look great but also seamless! It is possible to customize the grid-based template to satisfy your own needs efficiently. The total template has developed by considering medical and wellness services. The 20-page proposal template involves an invoice, which means that your branding stays consistent across the life span of the undertaking.
The template appears clean, easy, and minimal, is known for spaciousness and capability to accommodate all of your business specific content within a page site. As a consequence, your templates will need to include your business's corporate colours, at least, for slide shows presented beyond the organization. The 36-page expert proposal template comes with a clean minimal design.
The Unusual Secret of Bussiness Template
Significantly, you're getting all the things which are essential for a small business. Some smaller businesses will profit from making use of a template app to become started, but find, as they grow, that a custom made app is likely to serve them better in the very long run. If you are in possession of a neighborhood business, among the main reasons to construct and support a site is to drive foot traffic to your location. It's possible to easily promote your company by your expertise. Your organization is going to be better for it. If you're seeking to cultivate your organization and wow your audience, select the one which provides you the most flexibility and creative freedom to explain what you do and why you'll be prosperous later on. Not only are you going to own a killer business, but it is going to also be long-lasting in the business.You know, it isn't easy to uncover a template which doesn't only look great but also unique! There are a great deal of bootstrap template or themes readily available on the internet. There are many twitter bootstrap templates or themes offered for Free and Paid on the internet.