Jan 25, 2022
UK government borrowing drops as economy recovers
Some good news for the government: UK public sector borrowing fell more than expected in December after an uptick in tax revenues. After record-busting borrowing over the past two years, borrowing in December was only the fourth-highest for the month since records began in 1993, below not just 2020 but also 2009 and 2010, during the economic downturn that followed the financial crisis. Borrowing for 2021 as a whole was £129bn lower than the previous year, at £147bn. Third-quarter domestic parcel revenues fell 5 per cent from last year, when many shops were shut, but are 44 per cent higher than two years ago. Tesla yesterday stepped up its fight against JPMorgan in the tussle linked to Elon Musk's take-private tweet, accusing the bank of putting its "Thumb on the scale" to secure a windfall from the carmaker's shares last year.
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