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UK borrowing shoots higher, deepening Reeves' challenges

Britain's borrowing has surged past the official forecasts that underpin the government's tax and spending plans, compounding the challenge facing finance minister Rachel Reeves in her November budget.

Business • 19 Sep

a pile of 20 and 50 pound sterling notes

UK government borrowing less than expected in July

Government borrowing in the UK slowed to a lower-than-expected £1.1 billion in July, providing some relief for Chancellor Rachel Reeves in the run-up to the autumn budget.

Business • 21 Aug

UK finance minister Rachel Reeves is expected to raise taxes in a budget statement towards the end of the year

UK borrowing climbs as inflation pushes up debt costs

Britain borrowed more than expected in June as high inflation pushed up the government's debt costs, according to data that is likely to add to speculation about the need for fresh tax increases by finance minister Rachel Reeves.

Business • 22 Jul

The UK government borrowed £151.9 billion over the course of the 2024/25 financial year

Britain posts bigger than expected budget deficit

Britain's government borrowed almost £15 billion more in the financial year that just ended than official budget forecasters had estimated a month ago, according to data that heaped more pressure on the public finances.

Business • 23 Apr

UK Finance Minister Rachel Reeves is set to announce cuts to her spending plans next week

UK government borrows more than expected

Britain borrowed more than expected last month, according to official figures published today that showed the scale of the challenge facing finance minister Rachel Reeves who is expected to announce cuts to her spending plans next week.

Business • 21 Mar

More bad news for British finance minister Rachel Reeves today

UK's Reeves faces budget pressure after tax shortfall

British finance minister Rachel Reeves received more bad news on the public finances today after January tax receipts came in lower than expected, barely a month before she gives an update on whether she is on course to meet her borrowing targets.

Business • 21 Feb

UK public sector net borrowing was £17.8 billion in December, new Office for National Statistics figures show today

UK budget deficit surges in December on debt interest hit

Britain ran a bigger-than-expected budget deficit in December, swelled by debt interest and a one-off purchase of military homes, data showed today that underlined the fiscal pressure faced by finance minister Rachel Reeves.

Business • 22 Jan

Rachel Reeves, the UK chancellor of the exchequer

UK government borrowing jumps in August ahead of budget

British Chancellor Rachel Reeves faces a fresh headache ahead of her first Budget this autumn after official figures revealed government borrowing jumped by more than expected last month.

Business • 20 Sep 24

UK public sector net borrowing, excluding state-owned banks, rose in April to £25.56 billion - almost £12 billion more than in April 2022

High inflation helps to swell April's UK budget deficit

Britain borrowed more than expected in April as high inflation pushed the government's debt interest bill to a new record for the month, even before expected tax cuts by Finance Minister Jeremy Hunt ahead of the next election.

Business • 23 May 23

The ONS said public sector net borrowing, excluding state-owned banks, was £27.4 billion in December, up from £10.7 billion a year earlier

Energy support, debt interest swell UK borrowing

The UK government borrowed more last month than in any December since monthly records began 30 years ago, reflecting the huge cost of energy support, soaring debt interest linked to rising inflation.

Business • 24 Jan 23

British public-sector net borrowing, excluding state-owned banks, totalled £151.8 billion in the 2021/22 financial year

UK public borrowing above government forecasts

British government borrowing in the recently ended 2021/22 financial year was almost 20% higher than forecast by its own budget office last month, according to figures published today.

Business • 26 Apr 22

UK finance minister Rishi Sunak will have more cash than he expected a few months ago to soften the impact of a surge in energy costs

UK public borrowing on track to undershoot forecast

British public borrowing with just one month left in the current financial year was less than half its level from a year earlier, official data showed today.

Business • 22 Mar 22

UK public sector net borrowing fell to £22.8 billion in June - the second-highest June figure on record

UK's huge public borrowing falls in June, debt costs up

UK public borrowing last month was almost a fifth lower than a year earlier, when the economy was feeling the full force of the coronavirus pandemic, but rising inflation put upward pressure on debt costs.

Business • 21 Jul 21

Despite the fall, last month's UK borrowing is still huge by normal standards

UK borrowing shows first fall since start of pandemic

UK public borrowing totalled £31.696 billion in April, the first month of the new financial year, down from £47.315 billion a year earlier when the public finances first felt the full impact of the Covid pandemic, official figures showed today.

Business • 25 May 21

UK sales volumes jumped by 5.4% in March from February, the Office for National Statistics said

UK retail sales soar in March ahead of lockdown easing

British retail sales rocketed last month as consumers prepared for a partial lifting of coronavirus lockdown restrictions across much of the country, official data showed today.

Business • 23 Apr 21

The UK government borrowed £19.1 billion last month, a record for February but less than the £21 billion forecast

UK to undershoot towering Covid-19 borrowing forecast

Britain's record-breaking borrowing to pay for the coronavirus crisis is likely to be a little lower than forecast, after data published today showed the budget deficit grew by less than expected in the first two months of 2021.

Business • 19 Mar 21

UK retail sales fell by a record 18% as the coronavirus crisis hammered the economy in April

UK borrowing soars, retail sales plunge due to Covid-19

The UK government borrowed more than it has done in any month on record in April, pushing up a measure of public debt to close to 100% of economic output.

Business • 22 May 20

UK borrowing