Covid pushes UK government borrowing to record February high
by Phillip Inman from on (#5FHQT)
Figures also appear to confirm that economic recovery will be faster than forecast
UK government spending to combat the coronavirus pandemic pushed the public finances 19bn further into the red in February, though this was less than City economists had 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.
Related: Bank of England more upbeat on UK job prospects after Sunak budget
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