ONS: Government's December borrowing in 2020 'highest since records began'

Government borrowing last month was the highest December borrowing on record according to new figures.

The Office for National Statistics (ONS) has reported that public sector borrowing for December 2020 is estimated to have been £34.1bn.

The figure is £28.2bn more than December 2019, and is the highest borrowing for the month of December since records began in 1993.

Total borrowing for this financial year has now reached £270.8bn - £212.7bn more than a year ago according to ONS.

Official forecasts by the Office for Budget Responsibility (OBR) have estimated that this figure could reach £393.5bn by the end of March 2021.