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Government borrowing higher than expected in February

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CitrixNews Staff
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Government borrowing higher than expected in February
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UK government borrowing rose unexpectedly to £14.3bn in February to the second highest level for that month since records began, official figures show.

The Office for National Statistics (ONS) said an increase in government tax receipts was outweighed by a rise in spending, including from debt interest payments. Economists had expected borrowing to be £8.8bn in February.

The figure, which measures the difference between total public sector spending and tax income, is for the month before the start of the US-Israel war with Iran.

The Treasury said it had the "right economic plan" and added "we are better prepared for a more volatile world".

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Originally reported by BBC News