(Alliance News) - The UK government borrowed more than expected in August, figures from the Office for National Statistics showed Tuesday.
UK public sector net borrowing, excluding public sector banks, was estimated to have been GBP20.5 billion in August, higher than economist forecasts of GBP14.2 billion.
The ONS said the latest figure was the second-highest August borrowing since monthly records began in 1993, but GBP5.5 billion less than in August 2020.
During the course of the virus pandemic, UK government borrowing has been hitting record levels, with vast amounts being spent on measures such as furlough payments.
Earlier this month, the UK government broke an election manifesto pledge as it raised national insurance contributions to help pay for health and social care.
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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