British public finances recorded the worst deficit for any October since 2009, making it more likely Chancellor George Osborne will miss his annual borrowing target, as he prepares for a major spending review next week.
Official data on Friday showed Britain’s headline public borrowing rose to 8.2 billion pounds in October from 7.1 billion pounds a year earlier, higher than all forecasts in a Reuters poll that predicted borrowing of only 6.0 billion pounds.
While government borrowing in the current 2015/16 financial year is 11 percent less than it was at the same point in 2014, progress has been slower than Osborne might have hoped.
Economists said the figures made it more likely that the Office for Budget Responsibility will bump up its forecast for government borrowing this fiscal year, when Osborne outlines his comprehensive spending review next Wednesday.
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