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LOCAL AUTHORITIES CONTINUE RECORD OF REDUCED BORROWING

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Higher public spending has pushed the public sector borrowing requirement up to£3.13bn last month, says the Treasu...
Higher public spending has pushed the public sector borrowing requirement up to £3.13bn last month, says the Treasury, reports the Financial Times (p12).

In the first eight months of the financial year overall government borrowing totalled £30bn compared with £22bn in the same period last year, says the paper.

Local authorities repaid £1.21bn of the debt in November, continuing their record of reduced borrowing. So far this financial year local authorities have repaid a net £3bn, compared with repayments of £7.1bn in the same period of 1992-93.
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