UK government spending to combat the coronavirus pandemic pushed the public finances further into the red in February, although by less than City economists expected after robust consumer spending prevented a steep fall in VAT.
With the third lockdown in its second month, the Office for National Statistics (ONS) said public sector borrowing was £19.1bn in February, £17.6bn more than in the same month last year and the highest February borrowing since monthly records began in 1993.
City economists had expected February’s deficit to hit £21bn.
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