Coronavirus: Borrowing records smashed as Sunak prepares to splash more cash | Business News

The Treasury borrowed the third highest sum for any month on record in August, according to official figures as the chancellor prepares to unleash his latest support for the coronavirus-hit economy.

The Office for National Statistics (ONS) reported that public sector net borrowing, excluding the effects of bank bailouts, was estimated to have hit £35.9bn last month – the highest sum ever recorded for an August.

That was £30.5bn more than in the same month last year and explained by the government’s efforts to fund its COVID-19 medicine for jobs and efforts to tackle the disease.

The ONS said

Sky News