borrowing

Mixed reaction to government's plans

Austerity to end

Key themes to generate much-needed growth

Lower inflation, driven by a fall in oil prices, has helped the Office for Budget Responsibility (OBR) upgrade UK growth forecasts for 2015 and 2016 and given the government room to move on near-term borrowing.

UK debt

The UK's borrowings have fallen to £95bn in 2014/15, undercutting previous expectations, the Chancellor has said.

UK government borrowing data has struck an unwelcome tone ahead of this afternoon's Budget, after February figures were far worse than expected.

The government received more income than it spent in January, posting the highest surplus for four years following a drive to cut public spending.

The UK government borrowed less than expected for the financial year to 1 April, posting a total of £141bn.

The UK government borrowed a record £16.2bn in September to repair the nation's finances, a figure which surprised economists.