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"These figures [public borrowing] demonstrate the government's progress in cutting the deficit"
- Treasury spokesman
U.K. public borrowing decreased more than expected to 3.4 billion in October from 10.2 billion in September, said the Office for National Statistics on Tuesday. Economists expected the reading to decline to 4.1 billion.
"These figures demonstrate the government's progress in cutting the deficit so far this year, with borrowing now over ВЈ10bn lower in the year to October than in the same period last year," a Treasury spokesman said.
"The difficult decisions which have delivered this reduction in borrowing have made the UK a relative safe haven in the sovereign debt storm, but we are not immune to the turbulence in the eurozone and its impact on British businesses."