New figures from the Office for National Statistics show the government borrowed £17.4 billion last month to pay for heightened spending. £4 billion more than forecast and the second highest October figure since records started in 1993…
The ONS says pay rises – of which Reeves handed out £9.4 billion – and inflation caused government spending to shoot up. Borrowing in the financial year so far is £1.1 billion higher than last year, at £96.6 billion. It’s only predicted to get bigger…
Speaking at his speech on how to achieve “progressive capitalism” Wes Streeting fired a dig and Andy Burnham:
“Bond markets are not bond villains and fiscal rules matter.”