UK Borrowing Fell in May
21 June 2018 - 10:02AM
Dow Jones News
By Jason Douglas and David Hodari
LONDON--U.K. government borrowing declined on the year in May as
higher taxes offset a small rise in spending.
The Office for National Statistics said borrowing in May was 5
billion pounds ($6.59 billion) compared with GBP7 billion a year
earlier.
Eliminating a persistent budget deficit has been a goal of
successive U.K. governments since 2010.
The ONS said borrowing for the fiscal year to the end of March
was the lowest in 11 years, at a revised GBP39.5 billion. The
government ran a small surplus on day-to-day spending, which
excludes investment.
Prime Minister Theresa May this week said the government intends
to increase borrowing and raise taxes to help finance a spending
boost for the state-run National Health Service.
Write to Jason Douglas at Jason.Douglas@wsj.com and David Hodari
at David.Hodari@wsj.com
(END) Dow Jones Newswires
June 21, 2018 04:47 ET (08:47 GMT)
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