The UK budget deficit in October far exceeded expectations and was the biggest for the month in three years, raising the likelihood of the government missing its borrowing target for the fiscal year, official data showed on Wednesday.
The public sector net borrowing, or PSNB, excluding state banks was GBP 8.8 billion in October, which was the highest for the month since 2015, the Office for National Statistics said.
Economists had forecast a deficit of GBP 6.1 billion. In September, the deficit was GBP 2.84 billion and the shortfall was GBP 7.23 billion in October 2017.
Subscribe to continue reading the article.
This article is part of our premium content offering.Subscribe with a RTTNews subscription.
Subscribe NowAlready subscribed? Sign in
For comments and feedback: editorial@rttnews.com