Government borrowing rose more than expected in December to hit its highest level for the month for four years, piling more pressure on the UK’s finances. Borrowing, the difference between spending and tax revenue, was £17.8bn last month, £10.1bn more than in December 2023, official figures show. Spending on public services, benefits, and debt interest were all up on the year, while an increase in tax receipts was offset by National Insurance cuts made by the previous government.
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