UK borrowing surges to £18.3bn in August
1 Sep 22 · 2d ago · 2 articles · 2 posts · 2 comments · 2 sources · development 1 of 2
The Office for National Statistics released August borrowing data showing public sector borrowing of £18.3 billion, significantly above City forecasts of £15.6 billion and the OBR's projection of £14.8 billion. Rising debt interest costs drove the overshoot, though total outstanding debt remained stable at 93.8% of GDP.
“The UK's borrowing bill rose more than expected to £18.3 billion in August, underlining the fiscal squeeze facing the new chancellor ahead of his maiden budget next month.”
Times and Sunday Times / BBC · reddit ↗UK Chancellor Chancellor of the ExchequerOffice for Budget Responsibility Independent fiscal watchdog
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Reported in the same hours no headline names this development itself — these 1 claim were published in its stretch
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first by BBC, 2d ago
What people said 2 voices · verbatim
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The UK’s borrowing bill rose more than expected to £18.3 billion in August, underlining the fiscal squeeze facing the new chancellor ahead of his maiden budget next month. Britain’s borrowing bill continued to overshoot forecasts on the back of rising debt interest costs. The August total borrowing figure of £18.3 billion was above City estimates…
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Gilts aren't "borrowing", they are a secure savings facility offered by government to the private sector; they are issued by political choice (paying coupon is also a political choice) to drain excess reserves earlier injected by government spending - aka monpol.
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