Bbc
Government borrows more than expected in October
K.Smith3 months ago
Government borrows more than expected in October
Government borrowing in October was higher than expected, the latest official figures show. Borrowing - the difference between spending and tax income - was £14.9bn, according to the Office for National Statistics (ONS). That was £4.4bn more than a year earlier and the second highest October borrowing since monthly records began in 1993. It comes as the chancellor prepares to announce his Autumn Statement. Responding to the latest statistics, Jeremy Hunt said he would continue to support the Bank of England to drive inflation down to 2%. "That means being responsible with the nation's finances," he added. The ONS said the government had borrowed £98.3bn since the start of the financial year. That is £21.9bn more than a year earlier, but is less than the £115.2bn that was forecast by the independent Office for Budget Responsibility in March.
Read the full article:https://www.bbc.com/news/business-67474899
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