The cost of the UK government’s energy support scheme caused public sector borrowing to soar to a record £16.7 billion last month, official figures show.
According to the Office for National Statistics (ONS), public sector net borrowing in February was £16.7 billion, £9.7 billion more than the same month a year ago and the highest February borrowing since monthly records began in 1993.
The ONS said the rise was largely driven by the £9.3 billion spending on energy support schemes.
The cost of the government’s energy support schemes—put in place last October to help households and businesses cope with rocketing gas and electricity bills following Russia’s invasion of Ukraine—has now reached about £34 billion….