UK undershoots annual borrowing target by £700m

Figure hits three-year low but Iran war expected to blow hole in Reeves’s fiscal ‘headroom’Business live – latest updatesThe UK government budget came in below its annual borrowing target by £700m, official figures show – but the Iran war is likely to blow a hole in Rachel Reeves’s carefully calculated fiscal “headroom” over the coming months.The government borrowed a net total of £132bn for the financial year ending in March, the Office for National Statistics (ONS) said. This slightly undersho...