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  1. National

Annual rise in govt borrowing

Government borrowing increased slightly in the last financial year. The Office for National Statistics revealed it rose by around £300m to £118.8 billion. But public sector borrowing for last month was lower than expected last month at £8.8 billion.

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Borrowing figures 'another damaging blow' to Osborne

Labour called the ONS figures 'another damaging blow to George Osborne’s economic credibility' Credit: Oli Scarff/PA Wire

Labour called the rise in public sector net borrowing for 2012/13 to £118.8 billion "another damaging blow to George Osborne’s economic credibility".

Labour's Treasury spokesman Chris Leslie said: “The reason why the Chancellor is failing to get the deficit down is because he has failed to boost living standards and economic growth.

"He’s borrowing billions more simply to pay for the costs of his economic failure".

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