business / economy
3 hours ago

UK Government Borrowing Soars to £17.8bn in December, Pressures Rachel Reeves

UK Government Borrowing Soars to £17.8bn in December, Pressures Rachel Reeves
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7 Highlights
  • UK borrowing hits £17.8bn in December, highest in four years.
  • Debt interest and spending drive up borrowing, exceeding forecasts.
  • City expected £14.1bn, but actual borrowing was £17.8bn.
  • Office for National Statistics notes rising public spending.
  • Rachel Reeves faces pressure for budget adjustments by March.
  • Fiscal stability may require tax hikes or spending cuts soon.
  • Pound value drops as traders react to the borrowing news.
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