Jeremy Hunt pours cold water on hopes of early tax cuts after borrowing hit highest level EVER in December – as interest on £2.5tn debt mountain reached record £17billion and energy support scheme added to costs
- Chancellor stressed need to get debt falling after new high in borrowing figures
- December borrowing was the highest for the month since records began in 1993
Jeremy Hunt poured cold water on Tory hopes of early tax cuts today after figures showed borrowing hitting a new record last month.
The Chancellor warned of the need to get government debt falling as another £27.4billion of liabilities were racked up last month – £16.7billion more than the same month in 2021. It was the highest since comparable data started being…