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Record February borrowing of £19.1bn – but full-year hit could be a bit smaller than feared

Record February borrowing of £19.1bn – but full-year hit could be a bit smaller than feared

Business
Public sector borrowing rose to £19.1bn last month as the cost of tackling the coronavirus pandemic took a further toll.The sum - which represents the shortfall between the government's revenues, such as tax, and its spending on things like the NHS - was the highest for February on record. It was a little lower than the £21bn that had been pencilled in by economists and may mean the chancellor undershoots the colossal £355bn total for 2020/21 pencilled in by the Office for Budget Responsibility (OBR), unprecedented since the Second World War. Image: Higher spending on the NHS has contributed to borrowing The outlook for the full year has also been helped by a £5.6bn downward revision for January's shortfall.But the scale of the defici...