UK public sector borrowing jumps £1.6bn as Treasury reiterates repair pledge

October's public sector finance stats

The UK’s borrowing increased by £1.6bn in October this year versus the same period in 2023 as the Treasury bids to “[put] public finances on a sustainable footing to rebuild the country”.

UK borrowing – which is the difference between public sector spending and income – was £17.4bn last month, the second highest October borrowing since monthly records began in January 1993, according to data from the Office for National Statistics. The previous October high was set in 2020 in the midst of the Covid-19 pandemic when levels hit £18.2bn. Hike in energy prices pushes inflation above BoE target at 2.3% in October This was also an increase on September's value, when the government borrowed £16.6bn. Last month's figures came in £1.5bn higher than the £15.1bn borrowing f...