Government Borrowing Rises Ahead of Autumn Statement Announcements

Economists suggest that the Chancellor is ‘pressured more than ever to pull something out of the bag’ to gain popularity points over tax cut announcements.

Chancellor Jeremy Hunt appearing on the BBC One current affairs programme, 'Sunday with Laura Kuenssberg,' on Nov. 13, 2022. PA Media/James Manning

Official data showed an increase in government borrowing to £14.9 billion, in the second-highest October borrowing since monthly records began in 1993.

This is £4.4 billion more than was borrowed in October last year, according to the Office of National Statistics (ONS).