UK government borrowing in October tops forecasts at £17.4bn

Rachel Reeves has previously said she did not know the true picture of public finances before promising not to raise taxes. Photograph: Phil Noble/Reuters

The UK government borrowed more than expected in October as debt interest payments pushed the public finances deeper into the red, piling pressure on Rachel Reeves as she attempts to grow the economy.

Borrowing rose to £17.4bn last month, the second highest October figure since monthly records began in 1993 and despite a rise in inheritance tax receipts.