UK government borrowed £13bn less than expected last year

Better than expected figures could give Jeremy Hunt wriggle room to cut taxes or increase spending

• Analysis: Record UK borrowing puts Hunt in a tax cut dilemma

The UK government borrowed about 13bn less than expected last year, official figures show, despite the budget deficit reaching the fourth-highest level on records dating back to 1946.

The Office for National Statistics said the gap between the state's revenues and its spending was estimated at 139bn in the 12 months to March, an increase of more than 18bn from a year earlier.