UK government borrowing increased more than expected and also exceeded the official estimate in August, adding pressure on Chancellor Rachel Reeves ahead of the November budget.
Public sector net borrowing increased GBP 3.5 billion from the last year to GBP 18.0 billion in August, the Office for National Statistics said Friday.
This was the highest August borrowing in five years and exceeded the official estimate of GBP 12.5 billion. Borrowing was also larger than economists' forecast of GBP 12.8 billion.
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