Borrowing surge puts pressure on chancellor ahead of Budget
Borrowing was higher than expected in August as inflation piles pressure on the government ahead of the Budget.
Coverage by Political Leaning
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Notable Quotes
"Both higher borrowing costs and higher inflation make life harder for a chancellor who is looking to bring down borrowing and to spend more on government priorities."
— Nick Ridpath , Academic
"It is a dismal backdrop for the autumn Budget, with the government once again borrowing more than expected."
— Ruth Gregory , Academic
"At a time when debt interest costs billions of pounds that could otherwise be spent on improving lives, we must always know where the money is coming from to pay for public services."
— Emma Reynolds , Politician
"Only the Conservatives will make the tough choices on welfare and public spending to get Britain's finances under control."
— Andrew Griffith , Politician
"It was important not to overinterpret a single month given the volatility in the numbers."
— Martin Beck , Academic
Key People
Conservative's shadow business and trade secretary.
Andy Burnham is the chief minister of Jersey and a prominent Labour Party figure.
Emma Reynolds is the Environment Secretary in the UK government.
John Healey is the UK's Defence Secretary who recently resigned due to concerns over military funding.
Martin Beck is the chief economist at WPI Strategy.
Nick Ridpath is a research economist providing insights on government borrowing and inflation.
Deputy chief UK economist at Capital Economics.
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Borrowing was higher than expected in August as inflation piles pressure on the government ahead of the Budget.
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