Government borrowing in February was higher than expected, according to official figures.
Borrowing was £8.4bn, in part because of higher benefits payments such as cost-of-living support.
Economists had predicted that borrowing would come in at £6bn for the month.
Economists had predicted that borrowing would come in at £6bn for the month.
It was also the fourth consecutive month where borrowing was down on the previous year.
The government tends to spend more than it raises in tax.
To fill this gap it either borrows money, raises taxes, or cuts spending.
To borrow money the UK government sells financial products called bonds or gilts.
A bond is a promise to pay money in the future. Most require the borrower – the government – to make regular interest payments over the bond’s lifetime.
Government borrowing in February was higher than expected, according to official figures.
Economists had predicted that borrowing would come in at £6bn for the month.
Borrowing was £8.4bn, in part because of higher benefits payments such as cost-of-living support.
It was also the fourth consecutive month where borrowing was down on the previous year.
Economists had predicted that borrowing would come in at £6bn for the month.
Economists had predicted that borrowing would come in at £6bn for the month.
It was also the fourth consecutive month where borrowing was down on the previous year.
The government tends to spend more than it raises in tax.
To fill this gap it either borrows money, raises taxes, or cuts spending.
To borrow money the UK government sells financial products called bonds or gilts.
A bond is a promise to pay money in the future. Most require the borrower – the government – to make regular interest payments over the bond’s lifetime.
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