Public sector borrowing drops to £8.8 billion in May

Public sector net borrowing excluding financial interventions fell to £8.8 billion in May, down £6.9 billion from the same period last year, the Office for National Statistics said.

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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.