UK borrows almost twice as much as expected in August
by Julia Kollewe from Economics | The Guardian on (#63WA3)
Figure of 11.8bn comes as high inflation drives interest payments to a record for the month
The UK government borrowed 11.8bn last month, almost twice as much as the Treasury's independent forecaster had expected, as high inflation pushed interest payments to an August record.
The figures, from the Office for National Statistics, provide a difficult backdrop for the chancellor, Kwasi Kwarteng, before his mini-budget on Friday to address the cost of living crisis.
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