LONDON (Reuters) – Official data revealed that Britain borrowed more than anticipated in October, highlighting the challenges faced by Finance Minister Rachel Reeves, who has pledged to both repair public finances and significantly boost spending.
According to the Office for National Statistics, public sector net borrowing for October reached £17.4 billion ($22.0 billion), surpassing the median forecast of £12.3 billion in a Reuters poll of economists.
This was the second-highest borrowing figure for October since records began in 1993.
For the first seven months of the tax year, borrowing totaled £96.6 billion, £1.1 billion higher than the same period last year.
($1 = 0.7908 pounds)
