Authorities borrowing final month was £15bn greater than final yr, with the funds deficit increased than economists predicted.
The hole between what the federal government takes in and what it spends was £10.7bn in February, based on official figures as spending was increased and tax takes have been decrease than forecasts.
This time final yr, the federal government borrowed £117.5bn however the determine soared to £132.2bn in the course of the present monetary yr, representing a £15bn enhance, information from the Workplace for Nationwide Statistics (ONS) confirmed.
In response to the figures, chief secretary to the Treasury Darren Jones mentioned: “We’re refocusing the public sector on our missions and, for the first time in 17 years, going through every penny of taxpayer money line by line, to make sure it is helping us secure Britain’s future”.
“At the core of this urgent mission is sound public finances, based on our non-negotiable fiscal rules. This government will never play fast and loose with the public finances.”
Please refresh the web page for the fullest model.
