Public Loans Hit December Record – Latest Updates

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Today’s figures show the extent of government spending to subsidize household energy bills.

The Treasury borrowed £27.4 billion in December, the highest amount ever for the last month of the year.

This was more than the £22 billion in public borrowing in November and £16.7 billion more than borrowed in the same month in 2021.

5 things to start your day with

1) Households told to get used to power being cut as Grid extends discounts for second day | People will be routinely asked to use less electricity at peak times as part of the shift to net zero, National Grid and Ofgem officials suggested

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2) Mark Carney’s climate group is under fire for being “slow” with green investments | Allegations cast doubt on the former Bank of England governor’s climate credentials

3) New homes will get heat pumps as standard, says builder FTSE 250 | Redrow’s shift comes amid mounting pressure to shut down gas boilers.

4) Passengers must take off steeper as part of plans to reduce noise near airports | ‘Increased minimum climb gradient’ would reduce noise pollution but emit more carbon

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5) US investors are driving foreign investment in Britain to over £2 trillion | US investors were behind an additional £89.7 billion of investment in Britain from America in 2021

What happened from one day to the next

Asian markets that traded rallied after the rally in tech stocks in New York, but markets such as Hong Kong, Shanghai, Singapore and Seoul were closed for the Lunar New Year.

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Tokyo gained more than 1 percent, while Sydney, Manila, Jakarta and Wellington also rose well.

Oil prices barely budged after rising last week to their highest since November on demand hopes fueled by China’s reopening.

OANDA’s Edward Moya said: “Crude oil prices are faltering as the dollar stabilizes and China’s overfatigue reopens the headlines.”

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