October's government borrowing exceeds forecasts at £17.4bn
The Guardian|November 22, 2024
The government borrowed more than expected in October as debt interest payments pushed the public finances deeper into the red, piling pressure on Rachel Reeves as she attempts to expand the economy.
Phillip Inman
October's government borrowing exceeds forecasts at £17.4bn

Borrowing rose to £17.4bn last month, the second highest October figure since monthly records began in 1993 and despite a rise in inheritance tax receipts.

City economists had expected a smaller figure, of about £12.3bn for October, after the government borrowed more than £ 16 in September.

The Office for National Statistics (0NS) said public sector net borrowing was £1.6bn higher than in the same month last year.

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