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The Office for National Statistics released public sector net borrowing for the U.K. on Friday. Public sector net borrowing excluding banks rose to £11.2 billion in January from £10.2 billion in January last year. It was the biggest surplus since 2008.
The increase was driven by the high level of tax receipts.
The debt-to-gross domestic product ratio declined to 82.8% in January, the first annual decline since September 2002.