Government borrowing hits five-year high amid election spending vows

Photo of Government borrowing hits five-year high amid election spending vows
Facebook
VKontakte
share_fav

UK ran £11.2bn deficit last month amid fastest rise in public spending in 15 years

Government borrowing has risen to its highest October level in five years amid evidence that the slowing of the economy, increased spending and Brexit preparations have taken a toll on Britain’s finances.

At a time when political parties have been vying with each other to promise higher spending, data from the Office for National Statistics showed the UK ran a deficit of £11.2bn last month – up £2.3bn on a year earlier.

Related: Throwing big numbers around ignores the economic questions that really matter | Carys Roberts

Continue reading...
view The Guardian: Economics
#government borrowing
#sajid javid
#economic growth gdp
#economic policy
#business
#economics
#uk news
#brexit
#general election 2019