UK borrows £18bn in August, putting pressure on Healey before budget
by Phillip Inman from World news | The Guardian on (#78J0T)
Some economists say it is now inevitable' that chancellor will need to raise taxes in the budget next month
The UK government borrowed a higher-than-expected 18.3bn last month, increasing the pressure on John Healey as he attempts to calm jittery bond markets before next month's budget.
Some economists said it was inevitable" that the chancellor would need to raise taxes on 28 October if he is to meet demands for extra spending on defence without further borrowing investors on international money markets.
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