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Evening Standard

World

Nicholas Cecil

Chancellor Nadhim Zahawi admits rocketing inflation is hitting Britain’s public finances

Nadhim Zahawi Inflation Britain

Chancellor Nadhim Zahawi vowing to help households get through inflation crisis
(Picture: AFP via Getty Images)

Chancellor Nadhim Zahawi admitted on Friday that soaring inflation is hitting Britain’s public finances with debt interest payments up by more than £2 billion.

The Office for National Statistics said Government borrowing hit £4.9 billion in July, significantly ahead of City predictions of some £2.8 billion.

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