UK government borrowing rises to £24.5bn as John Healey prepares for budget

The UK government’s debt interest payments surged to a record September high, reaching over £10.9 billion—the eighth time monthly costs have exceeded £10 billion—amid rising inflation driving up borrowing expenses. The Treasury also reported a larger-than-expected budget deficit of £24.5 billion last month, intensifying financial pressures ahead of the upcoming budget announcement. Economists warn the trend could strain public finances further, raising questions about long-term fiscal strategy. Full details on the latest figures and their implications are available in the full report.

Government paid £10.9bn in debt interest, the highest September figure since records beganBusiness live – latest updatesThe Treasury ran a higher than expected budget deficit of £24.5bn last month as rising inflation pushed up the interest paid on government debt, increasing pressure on John Healey before his budget next week.Official figures show the government paid £10.9bn in debt interest: the highest September figure since records began, and only the eighth time the monthly number has been above £10bn. Continue reading...