Uk Borrows Almost Twice As Much As Expected In August Public Borrowing
The figures, from the Office for National Statistics, provide a difficult backdrop for the chancellor, Kwasi Kwarteng, ahead of his mini-budget on Friday to tackle the cost-of-living crisis. Government borrowing was £2.6bn less than in August 2021, but £6.5bn more than the same month in 2019 before the coronavirus pandemic. The figure of £11.8bn was almost double the £6bn forecast in March by the Office for Budget Responsibility (OBR), the Treasury’s independent forecaster, mainly due to a rise in government spending....