UK Borrowing Surges to Five-Year High, Pound Falls Amid Rising Insolvencies
TL;DR Summary
UK government borrowing in August reached its highest level in five years, driven by increased public spending and debt interest, putting pressure on Chancellor Rachel Reeves to consider raising taxes or cutting spending in the upcoming Budget to meet fiscal rules and address deteriorating public finances.
- Government borrowing hits highest August level for five years BBC
- UK borrowing for fiscal year blows past official forecasts Financial Times
- Budget challenge for Reeves gets even bigger as borrowing surges Reuters
- Workers’ rights bill is about to make Reeves’s OBR headache even worse The Telegraph
- Pound slides after UK government borrowing jumps in August and insolvencies rise – as it happened The Guardian
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