ET Net News Agency reported on the 21st: UK Chancellor of the Exchequer Rachel Reeves will deliver her first budget statement next Wednesday (28th). Ahead of this, the Office for National Statistics announced that the UK government's total public debt has exceeded £3 trillion for the first time, as of the end of September.
In September, the UK government's borrowing reached £24.52 billion, an increase of £1.8 billion compared to the same period last year, and £1.9 billion higher than the previous estimate by the Office for Budget Responsibility (OBR). Rising debt interest payments are one of the factors driving up borrowing.
For the six-month period from April to September in the 2026/27 fiscal year, the fiscal deficit amounted to £97.8 billion, a decrease of £4.4 billion compared to the same period last year, but still higher than the OBR's pre-Iran conflict forecast of £91.8 billion. Analysts believe this highlights the challenges facing Rachel Reeves in formulating the budget. (yc)
In September, the UK government's borrowing reached £24.52 billion, an increase of £1.8 billion compared to the same period last year, and £1.9 billion higher than the previous estimate by the Office for Budget Responsibility (OBR). Rising debt interest payments are one of the factors driving up borrowing.
For the six-month period from April to September in the 2026/27 fiscal year, the fiscal deficit amounted to £97.8 billion, a decrease of £4.4 billion compared to the same period last year, but still higher than the OBR's pre-Iran conflict forecast of £91.8 billion. Analysts believe this highlights the challenges facing Rachel Reeves in formulating the budget. (yc)