The UK government borrowed £17.4bn in October, higher than expected, reflecting increasing debt costs and tighter financial conditions facing Chancellor Rachel Reeves.
Alex Kerr from Capital Economics highlighted that if Chancellor Reeves aims to increase day-to-day spending in the future, raising taxes may be necessary due to current fiscal constraints.
Chancellor Rachel Reeves confronts rising public sector net borrowing, attributed to the unexpected rise in debt interest payments, complicating efforts to revitalize the economy.
Darren Jones stressed the challenges inherited from the previous government, indicating priority on stabilizing public finances before enabling future economic growth through spending.
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