Fall in UK tax receipts and business support fuel record October borrowing

  The Guardian 

Image source : theguardian.com
Monthly borrowing hits £22.3bn as Covid crisis forces debt pile up to highest proportion of GDP since 1960s A steep fall in tax receipts and the extra cost of government subsidies for businesses and the self-employed pushed UKgovernment borrowing last month to its highest level for October since records began in 1993. In the latest reading of the government’s finances ahead of the chancellor’s spending review next week, the Office for National Statistics said monthly borrowing hit £22.3bn in October, up more than £10bn on the same month last year. Continue reading... ▶ Full story on theguardian.com
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