BUSINESSApr 23 · 06:22 UTCTHE GUARDIAN WORLDTom Knowles

UK undershoots annual borrowing target by £700m

The UK government borrowed £132bn for the financial year ending in March, undershooting its £132.7bn target by £700m. However, the ongoing Iran war is expected to disrupt fiscal 'headroom' calculated by Chancellor Rachel Reeves in the coming months.

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UK governmentorganizationOffice for National StatisticsorganizationOffice for Budget ResponsibilityorganizationRachel ReevespersonIran wartopicfiscal headroomtopic

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