UK borrowing higher than expected in February

UK government borrowing rose unexpectedly to £14.3bn in February to the second highest level for that month since records began, official figures show.

The Office for National Statistics (ONS) said borrowing was £2.2bn higher than in February last year and much higher than the £8.8bn economists had expected it to be.

An increase in government tax receipts was outweighed by a rise in spending and the timing of government debt interest payments, the ONS said.

However across the 11 months of the financial year to February, government borrowing was down.

The figures, which measures the difference between total public sector spending and tax income, is for the month before the start of the US-Israel war with Iran.

The Treasury said it had the "right economic plan" and added "we are better prepared for a more volatile world".