Public borrowing hits record £152bn

Apr 22 2010

The extent of Britain's financial woes has been laid bare as official figures confirmed annual public borrowing has hit £152.8 billion - the highest since records began.

The grim record for public sector net borrowing came after the UK slumped into the red by another £23.5 billion in March, according to the Office for National Statistics (ONS).

But borrowing for the financial year to the end of March came within the Chancellor's lowered Budget forecast.

Excluding financial intervention, annual borrowing reached £163.4 billion, which was comfortably below Alistair Darling's latest prediction for £167 billion and far lower than his original £178 billion estimate.

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