Hugo Best: Jump in UK borrowing in February

Wednesday, March 21, 2012

21 March 2012 Last updated at 05:42 ET

HM Treasury building

The UK government borrowed almost twice as much as expected in February, official figures have shown.

Public sector net borrowing, excluding interventions such as bank bail-outs, rose to �15.2bn, the Office for National Statistics (ONS) said.

This compared with �8.9bn in February 2011 and was much more than analysts' forecasts of �8bn.

The figures may come as a blow to the Chancellor, George Osborne, who will deliver his third Budget later.

Hugo Best