The Office for National Statistics released public sector net borrowing for the U.K. on Friday. The public sector net borrowing in the U.K. climbed to £6.2 billion in February from -£8.9 billion in January, exceeding expectations for a rise to £7.7 billion. January's figure was revised up from -£9.7 billion.
The decline was driven by a strong recovery income taxes. Income tax related payments climbed 16.3%, corporation tax rose 11.9%, while stamp duties dropped 9.6%.