Government borrowing rose more than expected in December, hitting the highest level for the month for four years, official figures show.
Borrowing – the difference between spending and tax revenue – was £17.8bn last month, £10.1bn more than in December 2023, the Office for National Statistics (ONS) said.
Spending on public services, benefits, and debt interest were all up on the year, the ONS said, while an increase tax take was offset by a cut to National Insurance by the previous government.
The increased borrowing comes after interest rates paid on government debt surged earlier this month before falling back.
