Government borrowing rose by a record £90bn in the last financial year, according to figures released today.
The Office for National Statistics revealed total net public debt has climbed to £743.6bn, more than half of the UK's entire GDP. The Chancellor had forecast a rise in borrowing of £78bn in November's pre-Budget report, but the figure has risen substantially. The higher than expected borrowing figures add weight to rumours the Chancellor will be forced to make spending cuts in today's Budget. IFAonline
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