Government borrowing falls in August

© Getty Images

Government borrowing fell in August compared with last year as Covid restrictions continued to ease.

Borrowing, which is the difference between tax income and spending, was £20.5bn, official figures show – £5.5bn lower than August 2020.

However, this was the second-highest figure for August since records began.

Borrowing has been at record levels, with billions being spent on support for the economy such as the furlough scheme.

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