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Government borrows higher-than-expected £10.6bn

PUBLISHED: 10:05 21 October 2016 | UPDATED: 10:05 21 October 2016

Government borrowing hit a higher-than-expected £10.6bn in September. Picture: Chris Radburn/PA Wire

Government borrowing hit a higher-than-expected £10.6bn in September. Picture: Chris Radburn/PA Wire

The UK's public finances were in worse shape last month as the Government surprised economists by borrowing a higher-than-expected £10.6bn.

The Office for National Statistics (ONS) said public sector net borrowing, excluding public sector banks, jumped by 14.5% - or £1.3bn - in September, compared with the same month in 2015.

Economists were pencilling in a figure of £8.5bn.

However, Government borrowing excluding banks in the financial year to date - April to September - fell by £2.3bn to £45.5bn in contrast with the same period last year.

The ONS said public sector net debt excluding banks climbed by £39.5bn to £1,627.2bn last month, the equivalent to 83.3% of gross domestic product (GDP).

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