Article preview: The UK government borrowed a lot more money than usual last month. January is always seen as a great month for the Treasury, as bumper tax revenues typically exceed public borrowing requirements. But not this year. With the pandemic response still in full flow, including a significant number of employees still on furlough, the UK government borrowed a record £8.8bn last month.
Massive January borrowing figures present a Budget dilemma for the Chancellor
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This 450-word blog post examines the latest public borrowing figures from the Office for National Statistics, speculating on Chancellor Rishi Sunak’s likely response in the Budget next month. Written on 19th February 2021.
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