UK forced to borrow more than expected as soaring inflation bites

Tue, 21 Sep 2021 07:05:51 GMT 4

UK forced to borrow more than expected as soaring inflation bites


Budget deficit dropped to £20.5bn in August but was offset by high interest payments on national debt

The UK government was forced to borrow more than expected in August as soaring inflation pushed up debt interest payments.

The Office for National Statistics said the government’s budget deficit – the gap between spending and income – dropped to £20.5bn in August from about £26bn in the same month a year earlier as Britain’s economy recovers from lockdown.

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Source link for full text: https://www.theguardian.com/business/2021/sep/21/uk-borrows-inflation-budget-deficit-interest-debt


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