Government borrowing was reported at the highest levels since Second World War, according to the Office for National Statistics. The deficit was recorded of £163.4 billion in the last financial year ended March 2010.

The annual deficit in last financial year was reported to nearly 12 per cent of GDP. However, the annual budget deficit was reported below the expectations of the economists.

The Office for National Statistics announced today that UK's annual deficit was reported of £163.4 billion in the past financial year 2009/10. This was reported up by 69%, comparing to the last year while it was reported of £96.5 billion in FY 2008/09.

The figures of annual deficit came below the forecasted levels of £166.5 billion by the government in its March budget. ONS said that the deficit was reported equivalent to 11.6% of GDP.

According to the Office of National Statistics, the Government borrowed £23.5 billion in the month of March. ONS said that the high borrowing in the month of March was attributable to tendency of spending the remainder of the annual budgets by the civil servants.