Britain's public sector net borrowing rose to its highest for a February on record but by less than economists had forecast, the Office for National Statistics (ONS) said today.
The ONS said that public sector net borrowing in February was £12.361 billion, below economists forecast of £14.75billion but well above the £8.766 billion in February 2009.
The cumulative figure for the tax year to date rose to £131.867 billion, suggesting that the government may undershoot its forecast borrowing for the year to April 2010, which was £170.4 billion including financial interventions.
January's PSNB figure was revised sharply downwards to just £43 million from £4.339 billion. The ONS said revisions to back data for the year had reduced overall borrowing for 2009/10 by £2.9 billion.
The cash measure of borrowing came in at £7.703 billion, again below forecasts for a reading of £11 billion but well above the £4.681 billion in February 2009.
The government, which will deliver its annual Budget on March 24th, has pledged to halve its budget deficit over the next four years.
Reuters