London stocks slide as UK borrowing hits £10.7bn in February

UK government borrowing in February exceeded expectations at £10.7bn, the fourth-highest figure since 1993, putting pressure on chancellor Rachel Reeves ahead of her spring statement. For the financial year to February, borrowing reached £132.2bn, up £14.7bn from the previous year, surpassing the OBR’s forecast of £127.5bn. Reeves plans to announce further spending cuts to maintain fiscal discipline during the spring statement on Wednesday, aiming to balance the current budget by 2029-30.

Full Article