Pressure on Reeves as borrowing hits £18bn

CHANCELLOR Rachel Reeves has been accused of "losing control" of public finances after Government borrowing surged to a five-year high.

- By Martyn Brown Political Editor

Public sector spending was £18billion higher than income in August, despite rising tax revenues.

It was the highest monthly deficit since 2020, when the country was scrambling to deal with Covid, and much more than the £12.8billion analysts had forecast.

Economists warned that the higher borrowing figures made tax rises in November's Budget look "inevitable".