Chancellor Given £2Bn Budget Boost After VAT Error Sees Borrowing Revised Down

Chancellor Rachel Reeves has been given an extra £2 billion wriggle room in her upcoming Budget after it was revealed that official government borrowing figures have been overstated due to inaccurate data on VAT receipts. PA

Chancellor Rachel Reeves has been given an extra £2 billion wriggle room in her upcoming Budget after it was revealed that official Government borrowing figures have been overstated due to inaccurate data on VAT receipts.

The Office for National Statistics (ONS) admitted that borrowing for the current financial year to August was £81.8 billion, down from the £83.8 billion previously reported.