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What will UK public sector borrowing be for October 2024?
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UK Office for National Statistics (ONS) public sector borrowing report
Story
UK Public Sector Borrowing Hits £13.7 Billion in August, Rachel Reeves Under Pressure
Sep 20, 2024, 06:03 AM
The United Kingdom's public sector net borrowing for August 2024 was £13.7 billion, significantly higher than the expected £12.1 billion and the previous year's £3.1 billion. This marks the third highest August borrowing on record, following 2020 and 2021. The UK's public sector net debt, excluding Bank of England holdings, has reached £2.768 trillion. Public Finances (PSNCR) for August stood at £4.9 billion, while Central Government NCR was £11.0 billion. The higher-than-expected borrowing has put Chancellor Rachel Reeves under pressure to consider raising taxes in her upcoming budget next month.
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