'Major blow' as UK borrowing soars to £10.7bn

RACHEL Reeves was dealt a "major blow" yesterday as Government borrowing surged to £10.7billion.

- By Steph Spyro Deputy Politcal Editor

The figure for February was higher than expected, heaping pressure on the Chancellor ahead of her Spring Statement on Wednesday.

The government's independent forecaster had predicted borrowing would be £6.5billion for the month. Borrowing is the difference between spending and income from taxes.

Liberal Democrat Treasury spokeswoman Daisy Cooper MP said: "The concerning figures are yet another major blow to the Chancellor's faltering plan for growth, and show her approach is simply not working.

"The Chancellor has failed to turn the page on the years of Conservative economic vandalism. Instead, Reeves's jobs tax will hammer small businesses, painting herself into a corner on her own fiscal rules.