UK borrowing soars to new record after energy bill help

Government borrowing hit the highest level for a December since records began in 1993. …

Meanwhile interest payable on UK gilts, or bonds, which the government sells to international investors to raise the money it needs, has risen sharply, he said. This is largely because many gilts are “index linked”, meaning the government’s repayments rise in line with inflation which is currently at double-digit levels.

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