Government borrowing greater than anticipated in February | EUROtoday

UK authorities borrowing was greater than anticipated in February, including stress to Chancellor Rachel Reeves forward of her Spring Statement subsequent week.

Borrowing – the distinction between spending and earnings from taxes – was £10.7bn final month, in keeping with official figures.

The authorities’s unbiased forecaster had predicted that borrowing can be £6.5bn for the month.

Economists have recommended Reeves will announce spending cuts subsequent week so as to meet her self-imposed guidelines for the financial system, which the Treasury reiterated had been “non-negotiable”.

“We must go further and faster to create an agile and productive state that works for people,” stated Darren Jones, chief secretary to the Treasury.