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flag UK government borrowing hit £17.4 billion in October, a record high driven by increased spending and debt costs.

flag UK government borrowing surged to £17.4 billion in October, the second-highest for the month since records began in 1993, according to the Office for National Statistics (ONS). flag This figure, £1.6 billion higher than October 2022, was driven by increased spending on public sector pay and services, as well as higher debt interest costs. flag Public debt is now estimated at 97.5% of GDP.

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