UK Government Reaches Target for Borrowing Costs

The government of the United Kingdom has borrowed over what was estimated during the month of March, according to the report that was released by the Office for National Statistics. However, even when this is so, the government was still able to be right on target with their borrowing costs. The cost of public sector borrowing has amounted to £18.2 billion during the month of March. This figure does not include interventions like bail outs that were done for financial institutions. It should be noted that the borrowing costs have been revised to a lower figure and this just reiterates the fact that the government was able to meet its target figure of £126 billion for the past fiscal year. The economy of the country has declined by 0.3 percent during the final quarter of the year 2011.