Covid pushes UK government borrowing to record February high



Phillip Inman | The Guardian

UK government spending to combat the coronavirus pandemic pushed the public finances further into the red in February, although by less than City economists expected after robust consumer spending prevented a steep fall in VAT.

With the third lockdown in its second month, the Office for National Statistics (ONS) said public sector borrowing was £19.1bn in February, £17.6bn more than in the same month last year and the highest February borrowing since monthly records began in 1993.

City economists had expected February’s deficit to hit £21bn.

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