Rolling coverage of the latest economic and financial news
Newsflash: Britain’s government borrowing soared in August, as spending rose faster than tax receipts, adding to the challenges facing Rachel Reeves as she draws up the autumn budget.
Public sector net borrowing excluding public sector banks jumped to £18bn in August 2025. This was £3.5bn more than in August 2024 and the highest August borrowing for five years.
“Last month’s borrowing was the highest August total since the pandemic.
Although overall tax and National Insurance receipts were noticeably up on last year, these increases were outstripped by higher spending on public services, benefits and debt interest. Total borrowing for the financial year to date was also the highest since 2020.
Continue reading…Rolling coverage of the latest economic and financial newsNewsflash: Britain’s government borrowing soared in August, as spending rose faster than tax receipts, adding to the challenges facing Rachel Reeves as she draws up the autumn budget.Public sector net borrowing excluding public sector banks jumped to £18bn in August 2025. This was £3.5bn more than in August 2024 and the highest August borrowing for five years.“Last month’s borrowing was the highest August total since the pandemic.Although overall tax and National Insurance receipts were noticeably up on last year, these increases were outstripped by higher spending on public services, benefits and debt interest. Total borrowing for the financial year to date was also the highest since 2020. Continue reading…
