UK government borrowing hits highest December level on record

Increase of 34.1bn last month takes budget deficit to nearly 271bn for the first nine months of financial year

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UK government borrowing hit its highest December level on record as spending soared in response to the coronavirus pandemic coupled with a steep drop in tax receipts.

The Office for National Statistics said borrowing hit 34.1bn last month, about 28bn more than the same month a year ago.