Public sector borrowing was £118.8 billion in 2012/13

Public sector net borrowing for 2012/13 was revised to £118.8 billion, slightly higher than the previous financial year, the Office for National Statistics said.

Read: Public sector borrowing drops to £8.8 billion in May

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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.