Government borrowing in October highest since 2014

November 21, 2019 by No Comments


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Government borrowing in October rose to its highest level in five years, official data shows.

The Office for National Statistics (ONS) said borrowing last month hit £11.2bn, £2.3bn more than last year.

That brings total borrowing this financial year, which runs from April, to £46.3bn, more than 10% higher than the same time in 2018.

In October, central government borrowed £7.6bn and local governments added £1bn to the total.

The Bank of England, meanwhile, borrowed £2.5bn.