The latest figures from the Office for National Statistics (ONS) show public sector borrowing hit £27.4 billion in December, the highest December figure since records began thirty years ago. £16.7 billion higher than December 2021, and a whopping £21.1 billion more than December 2019, prior to the pandemic…

£17.3 billion of last month’s figure was spent on debt interest alone. That’s two-thirds of the total. For context, the total policing budget in England and Wales for the financial year ending March 2023 is just under £17 billion…

Good news, though: In the financial year-to-December 2022, public borrowing sat at £128.1 billion, £5.1 billion more than 2021… although £2.7 billion less than forecast by the geniuses at the OBR. Small mercies.