U.K. Public Borrowing Hits A Record High Despite All The Spending Cut Promises


Britain’s public borrowing hit a record high in September and interest payments on the national debt more than doubled, piling further pressure on the Government to deliver on its tough spending cutbacks.

Public sector net borrowing came in at £15.6bn last month, up from £14.8bn a year earlier, the Office for National Statistics said. The pound dipped initially in the wake of the worse-than-expected data, which analysts had expected to show a reduction in borrowing to £14.2bn.

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