The UK Budget deficit fell to its lowest level for a decade in August, according to data released by the Office for Budget Responsibility (OBR).
The UK government borrowed a net £5.7bn in August, £1.3bn less than the figure for the same month last year, and below the consensus forecast of £7.1bn.
Total borrowing by the government in the first five months of the financial year was £28.3bn.
The organisation forecasts that for 2017 the UK government will borrow £58.3bn this year, an increase on the £46.5bn that was borrowed last year, with the latter number coming from the Office for National Statistics (ONS).
The OBR said it expects borrowing to pick up as the financial year progresses.
The OBR stated income tax receipts have been 2.1 per cent more this year than last.
The organisation had forecast income tax receipts to fall by a little more than one per cent by this stage of the year.
National insurance receipts were also higher than forecast.
Total public sector debt was £1.77trn at the end of August, an increase of £151bn on last year.
david.thorpe@ft.com
