Article 6W2Y5 Reeves under pressure as UK borrowing sharply exceeds forecasts

Reeves under pressure as UK borrowing sharply exceeds forecasts

by
Richard Partington Economics correspondent
from on (#6W2Y5)

IFS says chancellor boxed in' by promises before spring statement as February figure is much worse than expected

Worse-than-expected public spending data has piled pressure on Rachel Reeves in the run-up to next week's spring statement, with UK government borrowing rising by much more than expected last month to 10.7bn.

In a setback for the chancellor, the monthly total - the difference between total public sector spending and income - sharply overshot a Reuters poll of experts that had predicted a deficit of 6.6bn.

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