The budget deficit fell by more than £17bn in 2018/19 to under £25bn, its lowest since 2001/02. At just over 1% of gross domestic product, government borrowing has been brought back under control after years of big budget deficits and the recent strength of tax revenues is a large part of the explanation.
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The budget deficit fell by more than £17bn in 2018/19 to under £25bn, its lowest since 2001/02. At just over 1% of gross domestic product, government borrowing has been brought back under control after years of big budget deficits and the recent strength of tax revenues is a large part of the explanation.
If you are not a subscriber, subscribe now to read this content.
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