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The Independent UK
The Independent UK
Business
Howard Mustoe

Debt interest and civil service pay deals pushed borrowing to £17.4bn last month

Office for National Statistics
Chancellor of the Exchequer Rachel Reeves in her office at no 11 Downing Street, London (Jordan Pettitt/PA) - (PA Wire)

Soaring debt interest payments and Chancellor Rachel Reeves’ public pay deal have helped push borrowing to £17.4bn the second-highest October figure since records began in 1993.

The figure exceeded the expectations of economists of about £12.3bn for last month, after new borrowings of £16bn in September.

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