Government borrowing rises to £13.7bn in August | EUROtoday

Government borrowing rose by £3.3bn in August following larger spending on advantages and public providers, together with pay.

Official figures present that borrowing – the distinction between spending and tax income – reached to £13.7bn final month.

The Office for National Statistics (ONS) mentioned that tax revenue “grew strongly” however this was outweighed by some advantages being elevated such because the carer’s allowance and the incapacity residing allowance.

At the identical time, public providers prices rose, taking the general determine to the best borrowing for August since through the Covid pandemic in 2021.