UK Budget Deficit Widens In September

(RTTNews) - The UK budget deficit widened in September on higher expenditure, the Office for National Statistics said Tuesday.

Public sector net borrowing increased to GBP 20.2 billion from GBP 18.6 billion in the previous year. This was the highest September borrowing since 2020.

Data showed that current receipts increased 8.6 percent from the previous year to GBP 86.2 billion, and current expenditure rose 9.8 percent to GBP 90.6 billion.

In the financial year to September, borrowing rose by GBP 11.5 billion from the last year to GBP 99.8 billion.

The deficit hit the second-highest April to September level since records began in 1993. Moreover, this was above the official forecast of GBP 92.6 billion. At the end of September, public sector net debt excluding public sector banks reached 95.3 percent of gross domestic product, the ONS said.