UK borrowing balloons on energy support, data show

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LONDON, Jan 24 — The UK government's debt almost tripled last month as it subsidises gas and electricity bills to protect Britons from high energy costs following producer...

LONDON, Jan 24 — The UK government's debt almost tripled last month as it subsidises gas and electricity bills to protect Britons from high energy costs following producer Russia's invasion of Ukraine.

Prime Minister Rishi Sunak's energy support schemes for businesses and individuals added almost £7 billion to borrowing. The BoE in December hiked its interest rate by half a point to 3.5 per cent, the highest level in 14 years.

 

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