Public sector borrowing rises in August

UK public borrowing rose more than expected in August, figures released by the government today have revealed.

Public sector net borrowing hit £11.6bn last month, up from £10.9bn in August 2013. However, the figures are difficult to read as the accounting system used has changed since last year. According to the old system, the figure would have been £12.5bn up from £11.5bn in the same period. The rise has been attributed to the movement of the national rail network's accounts into the public sector, alongside disappointing income tax returns as wage inflation continues to underperform. These new figures are a further blow to the Chancellor George Osborne's (pictured) attempts to reduce th...