Government borrowing costs have reached a level not seen since 2008, public finance data has revealed, as the UK’s monthly borrowing reached the second-highest February level on record last month.
The Office for National Statistics (ONS) reported that public sector borrowing hit £14.3 billion in February, marking a £2.2 billion increase from the previous year and almost doubling the £7.4 billion projection made by the Office for Budget Responsibility (OBR) last November.
