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Public borrowing rise to £14.9bn limits Chancellor's tax cut options
Evening Standard
|November 21, 2023
JEREMY HUNT'S wiggle room for tax cuts in his Autumn Statement narrowed today when official figures showed public borrowing ballooned in October to its second highest ever level for the month.
Official data from the Office for National Statistics (ONS) showed the state needed to borrow £14.9 billion last month to keep the wheels of Government turning. City analysts had only been expecting a total of around £12 billion.
That was up £4.4 billion on 2022 and only exceeded by the first Covid year of 2020. The figure was boosted by a £7.5 billion government debt interest bill, a record for October.
Nonetheless the £98.3 billion total borrowed so far this financial year is still well below the £115.2 billion forecast by the Office for Budget Responsibility (OBR) in March.
Esta historia es de la edición November 21, 2023 de Evening Standard.
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