New figures from the Office for National Statistics show the UK borrowed £17.4 billion in October. That is £2.4 billion more than City economists had expected, and well above the OBR’s forecast of £14.4 billion…
This is also the third highest October deficit in the public finances on record. Total for the financial year so far is £116.8 billion, 8.4% higher than the same period last year. Shadow Chancellor Mel Stride said: “Borrowing so far this year has been the highest on record outside the pandemic. If Labour had any backbone, they would control spending to avoid tax rises next week.” Five days until the Winter Budget…
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