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Public borrowing hits £17.9bn

The Chancellor's plans to tackle to deficit have come under pressure after figures revealed a larger-than-expected surge in government borrowing. Public sector net borrowing was £17.9 billion in May, up from £15.2 billion the previous year.

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Treasury: It's too early to draw conclusions

A spokesman for the Treasury said:

It is too early in the financial year to draw conclusions about the year as a whole, especially as today's public finances data include a number of one-off factors and temporary distortions.

The Government is committed to dealing with the deficit, which will help keep interest rates lower for longer and support millions of families and businesses across the country.

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