The UK Treasury faces tough choices in next week's budget due to soaring debt interest payments and public sector pay awards, marking a substantial borrowing of £16.6bn.
Darren Jones, the chief secretary to the Treasury, emphasized that resolving the inherited £22bn black hole in public finances requires difficult decisions and a coherent plan for funding.
While the disappointing public finances figures won't impact the chancellor's available headroom for the upcoming budget, they underscore limited options for increasing day-to-day spending.
Jessica Barnaby from the ONS noted that last month’s borrowing was £2bn higher than last year, cementing it as the third highest September borrowing on record.
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