As Chancellor readies for Spring Statement, borrowing still ahead of forecasts.
“At £10.7 billion, public sector borrowing in the month of February was virtually unchanged on the same month last year. However, borrowing over the financial year to date was up nearly £15 billion on the equivalent period last year,” ONS Deputy Director for Public Sector Finances Jessica Barnaby said.
Public sector net debt excluding public sector banks was provisionally estimated at 95.5% of GDP at the end of Feb, this was 0.1 percentage points more than a year ago and remains at levels last seen in the early 1960s. Public sector net financial liabilities excluding public sector banks were provisionally estimated at 82.9% of GDP at the end of Feb, 2.3 percentage points more than at the end of Feb 2024.
Source: ONS
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