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UK government borrowing sharply overshot expectations in August in a blow to chancellor Rachel Reeves as she prepares for her first budget next month.
The public sector borrowed £13.7bn, the highest August shortfall since 2021, according to the Office for National Statistics.
That was £3.3bn higher than August last year, and £2.5bn higher than had been forecast by the Office for Budget Responsibility, the fiscal watchdog.
Government net debt was provisionally estimated at 100 per cent of gross domestic product at the end of August 2024, the ONS added.
This is a developing story