Search

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).


If you value what this story gives you, please consider supporting the Eastern Daily Press. Click the link in the orange box below for details.

Become a supporter

This newspaper has been a central part of community life for many years, through good times and bad, serving as your advocate and trusted source of local information. Our industry is facing testing times, which is why I’m asking for your support. Every single contribution will help us continue to produce award-winning local journalism that makes a measurable difference to our community.

Thank you.

Most Read

Most Read

Latest from the Eastern Daily Press