The UK’s public sector borrowing surplus fell in March from the year before, according to the Office for National Statistics on Tuesday.

UK public sector net borrowing, excluding public sector banks, was £11.9 billion in March. This was £4.7 billion less than in March last year.

Meanwhile, in the fiscal year to March, it was £120.7 billion. This is £7.6 billion less than the equivalent 12-month period of the prior year, but £6.6 billion more than forecast by the Office for Budget Responsibility.

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