UK factories plan price hikes; IMF backs support over energy prices – business live

Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

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

Read More Read More