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UK government borrowing fell in December thanks to a rise in tax receipts, despite a jump in the cost of repaying the national debt.
Public sector net borrowing, excluding state banks, dropped to £16.8bn last month, less than expected. That’s £7.6bn less than in December 2020, as the economy recovers from the impact of the pandemic.
It’s the fourth-highest December borrowing since monthly records began in 1993 (the UK borrowed more in both December 2009 and 2010 during the economic downturn