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UK borrowing soars to record high of £55bn in May

UK borrowing soars to record high of £55bn in May

As per Office for National Statistics, UK Govt borrowing touched a record monthly high of £55.2bn in May – nearly nine times higher than in the same month last year. This shows the borrowing has surged to a record £103.7bn in the financial year to date – £87bn more than the same time last year and the highest in any annual period since current records began in 1993.

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