Government borrowing higher than expected in February


Getty Images Chancellor Rachel Reeves in profileGetty Images

UK government borrowing was higher than expected in February, adding pressure to Chancellor Rachel Reeves ahead of her Spring Statement next week.

Borrowing – the difference between spending and income from taxes – was £10.7bn last month, according to official figures.

The government’s independent forecaster had predicted that borrowing would be £6.5bn for the month.

Economists have suggested Reeves will announce spending cuts next week in order to meet her self-imposed rules for the economy, which the Treasury reiterated were “non-negotiable”.

“We must go further and faster to create an agile and productive state that works for people,” said Darren Jones, chief secretary to the Treasury.



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