The government borrowed another £4.3bn last month to plug the growing hole in the UK's finances, figures show.

It is the first time the government has borrowed money in January - usually a bumper month for income from tax receipts - since records began in 1993.

Andrew Goodwin, senior economic adviser to the Ernst & Young ITEM Club, called the figures "pretty ghastly".

The UK's total borrowing for the financial year now totals more than £122bn.

January's borrowing figure, released by the Office for National Statistics, came as surprise to many economists.
BBC News - UK finances deteriorate further