Public sector borrowing hits record high

According to the organisation's latest figures, public sector net borrowing - a key measure of the public sector fiscal position - totalled £23.3bn last month, compared with £17.4bn a year ago. The increase in borrowing will fuel concerns over the UK's budget deficit and the coalition's attempts to bring it down. Public sector net borrowing excluding financial interventions was £104.4bn in the year to date for 2010/11, down from £105.1bn in the same period last year. According to the OBR's economic and fiscal outlook for 2010/11, net borrowing will reach £149bn. The latest publi...