UK Government Borrowing Rises as Energy Support Scheme Begins
The UK’s government borrowing increased in October as the energy support scheme for households and businesses got under way.
According to data released by the Office for National Statistics (ONS) on Nov. 22, government borrowing rose to £13.5 billion ($16 billion) in October.
The figure was £4.4 billion ($5.2 billion) higher than the same month last year and was the fourth-highest figure for October since monthly records began in 1993, the ONS said.
The higher borrowing figure was in part caused by the government’s energy support schemes to households and to domestic energy suppliers, which pushed central government current spending to £76.8 billion ($91 billion), £6.5 billion ($7.7 billion) more than the same month last year….