24-April-2024
Economy News
 
Energy bill help drives UK borrowing to February record
22-Mar-2023

Energy support schemes for households pushed government borrowing in February to its highest level for the month since records began in 1993. Borrowing, the difference between spending and tax income, was £16.7bn, last month, the Office for National Statistics (ONS) said. The ONS said this was largely due to spending on energy schemes this year. However, the interest paid on government debt was £6.9bn in February - £1.3bn less than a year earlier. Interest payments fell because of changes in the inflation rate that sets how much interest the government has to pay on its debts.

News Source:- https://www.bbc.com/news/business-65013583