Public Sector: Borrowing
The question
To ask the Chancellor of the Exchequer, what steps she is taking to reduce Government borrowing.
Answered by Lucy Rigby
We need to address the UK’s borrowing and debt, so we spend less on debt interest and more on the priorities of working people.
The government has a credible consolidation plan that ensures borrowing is falling in every year of the forecast. Borrowing this year is set to be the lowest for 6 years.
The government is reducing borrowing while protecting investment, and is maintaining an increase of over £120 billion departmental capital spending over the Parliament.
From 2025 to 2030, the UK is reducing government borrowing more than any other G7 country.
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