UK Government Borrowing Lower Than Expected in September But Remains High Amid Inflation Concerns
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Government borrowing in September was £14.3 billion, lower than expected but still high.
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Borrowing was £1.6 billion less than a year earlier, but the 6th highest September borrowing since 1993.
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Economists predicted £18.3 billion borrowing, while the Office for Budget Responsibility forecast £20.5 billion.
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Government debt was nearly £2.6 trillion in September, over 2% higher than last year.
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The Chancellor said high interest rates due to inflation could cost the UK an extra £20-30 billion per year.