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Government borrowing in December £1.9bn more than anticipated

THE amount of money the government borrowed last month was £1.9 billion more than economists expected, it was revealed yesterday.

Public-sector net borrowing, excluding state-owned banks, rose by £300 million in December to £3bn, according to the Office for National Statistics (ONS).

In December 2017 net borrowing was at £2.7bn and the government received a £1.2bn rebate from the European Union.

“Four years after the Conservatives claimed austerity would have closed the deficit, they are still borrowing more than expected,” he said.

“It’s time for a Labour government to invest for the future and rebuild our economy so that it works for the many, not the few.”

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