Chancellor Alistair Darling today said borrowing would be £11 billion below forecast this year thanks to stronger tax revenues and lower unemployment than first feared.

The £167 billion forecast for 2009/10 - although still a record by some distance - falls short of the £178 billion predicted in his December Pre-Budget Report.

Mr Darling added that the UK's overall debt would be £100 billion less than expected by 2013/14 as a result of the Government's measures to protect the economy.