Government Borrowing in February Was Higher Than Expected: Report

According to official data, public sector online loans in February was higher than anticipated due to higher social benefits and cost-of-living payments.
The public sector spent more than it received last month in taxes and other income, according to the Office for National Statistics ( ONS), which required it to borrow £8.4 billion, more than the £6 billion economists had predicted, according to a statement released on Thursday.
According to economists, this could mean that the government could overestimate the independent Office for Budget Responsibility ( OBR )’s ( OBR ) official borrowing forecasts for this fiscal year.
According to Ruth Gregory, deputy chief UK economist at Capital Economics, borrowing in March will need to be “only get £7.2 billion” for the OBR’s full-year estimates of £114 billion to become met.”

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