Lower borrowing bill gives Jeremy Hunt a boost before autumn statement - The Times

Jeremy Hunt is considering using a fraction of a revenue windfall to lower income tax, national insurance or inheritance tax tomorrow

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The chancellor has been handed a pre-autumn statement boost, with official figures showing that the government has borrowed £16.9 billion less than expected so far this year.

However, economists have warned that a record high debt interest bill could constrain the public finances.

The government borrowed £14.9 billion last month, the second highest figure for October since records began in 1993 and above analysts’ expectations, according to the Office for National Statistics.

It means that Britain’s debt stock has risen by £98.3 billion in this fiscal year, much lower the £115.2 billion that the Office for Budget Responsibility had projected alongside the budget in March and strengthening the chances of Jeremy Hunt launching tax cuts at today’s statement.

October’s deficit was up from an

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2023-11-22 00:00:00Z
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