The UK government borrowed £16.7bn in February, reaching the highest level for the month since records began in 1993, according to the Office for National Statistics (ONS). 

The figure marked a year-on-year increase of £9.7bn. 

The rise in public borrowing was said to be caused by spending on energy support schemes that aimed to help households and businesses cope with soaring energy bills. The cost of these schemes has totalled an estimated £34bn since they were first introduced in October.  

Nonetheless, the ONS has stressed that the interest paid on government debt was £6.9bn in February - £1.3bn less than a year earlier - due to changes in inflation rates.

“Borrowing is still high because we’re determined to support households and businesses with rising prices and are spending about £1,500 per household to pay just under half of people’s energy bills this winter," said chancellor Jeremy Hunt. 

“What will bring these costs right down is lower...