The UK’s borrowing increased by £1.6bn in October this year versus the same period in 2023 as the Treasury bids to “[put] public finances on a sustainable footing to rebuild the country”.
UK borrowing – which is the difference between public sector spending and income – was £17.4bn last month, the second highest October borrowing since monthly records began in January 1993, according to data from the Office for National Statistics. The previous October high was set in 2020 in the midst of the Covid-19 pandemic when levels hit £18.2bn. Hike in energy prices pushes inflation above BoE target at 2.3% in October This was also an increase on September's value, when the government borrowed £16.6bn. Last month's figures came in £1.5bn higher than the £15.1bn borrowing f...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
