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| UK government borrowing fell in 2013-14 | UK government borrowing fell in 2013-14 |
| (35 minutes later) | |
| The UK government borrowed £107.7bn in the financial year to April 2014, lower than the £115.1bn amount it borrowed the previous year. | The UK government borrowed £107.7bn in the financial year to April 2014, lower than the £115.1bn amount it borrowed the previous year. |
| In the Budget, the Office for Budget Responsibility (OBR) had estimated a deficit for the full year of £107.8bn. | In the Budget, the Office for Budget Responsibility (OBR) had estimated a deficit for the full year of £107.8bn. |
| The government wants to eliminate the budget deficit by 2017-18. | The government wants to eliminate the budget deficit by 2017-18. |
| Borrowing in March fell to £6.7bn from £11.4bn a year earlier, excluding financial interventions, the Office for National Statistics (ONS) said. | Borrowing in March fell to £6.7bn from £11.4bn a year earlier, excluding financial interventions, the Office for National Statistics (ONS) said. |
| Meanwhile, the figure for February was revised down from £9.3bn to £8.8bn. | |
| The annual figure is the first provisional estimate of the financial year, and will be revised as more data becomes available. | The annual figure is the first provisional estimate of the financial year, and will be revised as more data becomes available. |
| It excludes the effects of both the transfer of the Royal Mail pension scheme to the government, and gains from the Bank of England's asset purchases for quantitative easing (QE). | It excludes the effects of both the transfer of the Royal Mail pension scheme to the government, and gains from the Bank of England's asset purchases for quantitative easing (QE). |
| The UK's public sector net debt, excluding financial interventions, is now £1,268.7bn, equivalent to 75.8% of GDP. | The UK's public sector net debt, excluding financial interventions, is now £1,268.7bn, equivalent to 75.8% of GDP. |