Net Borrowing Lower Than Predicted

Public sector net borrowing increased by £0.5bn to £14.4bn in June 2012 compared with June 2011. The net budget deficit was £0.6bn higher at £13bn.

Over the year 2011/12 public sector net borrowing was £125.7bn, £0.3bn lower than predicted by the Office for Budget Responsibility.

Public sector net debt was £1038.3bn equivalent to 66.1% of GDP.