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MNI DATA BRIEF: UK 2020/21FY Borrowing Revised Modestly Lower

LONDON (MNI)

UK borrowing for the 2021/21 fiscal year was revised downward to GBP300.3 billion from the originally-reported 303.1billion, taking borrowing further below the OBR like-for-like forecast of GBP327.4 billion.

The headline OBR estimate of GBP355 billion includes GBP27.2 billion in Covid-related load write offs not yet reflected in ONS data. That pushed borrowing down to 97.4% of GDP from the initially-reported 97.7%, and the deficit down to 14.3% of GDP from the 14.5% reported last month, but still the highest since 1946.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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