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May UK government borrowing hits record £55.2bn

A woman shelters from the rain beneath a Union Jack umbrella during rainfall in central London.

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Government borrowing hit a record monthly high of £55.2bn in May, as the coronavirus continues to press heavily on finances.

The Office for National Statistics had previously said April’s spending was the highest since records began in 1993, but revised back the figure from £62bn to £48.5bn.

April’s figure was revised after the government received more from taxes and National Insurance and spent less than thought on the Coronavirus Job Retention Scheme.

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