Ahead of the UK autumn budget that will be released in the end of this month – we saw public net borrowing sweep past official forecasts. Borrowing rose to 16.6 billion in the last month, an increase of 2.1billion year-on-year.
To put this in perspective, it’s the third highest figure recorded in September since public sector net borrowing began being documented. ONS officials outlined increased spending being the main driver and net borrowing increased because of higher interest rates and wage growth.
