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Evening Standard
Evening Standard
Business
Jonathan Prynn

Pressure grows on Reeves to raise taxes as borrowing hits £17.7bn in May

Reeves National Insurance Insurance Economy Pandemic
Higher employer national insurance contributions boosted tax receipts in May (Yui Mok/PA) - (PA Archive)

Government was forced to borrow more last month than in any May on record outside the national emergency of the pandemic as public spending surged.

Latest figures from the Office for National Statistics show public borrowing hit £17.7 billion in May, up from £17 billion in 2024.

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