Government borrows higher-than-expected £10.6bn
PUBLISHED: 10:05 21 October 2016 | UPDATED: 10:05 21 October 2016
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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