That was £3.5bn more than a year earlier and the fourth highest August borrowing since monthly records began in 1993.
Experts had predicted public borrowing would stand at £11.1bn last month.
Experts had predicted public borrowing would stand at £11.1bn last month.
Governments often borrow to boost the economy. They also borrow to pay for big projects – such as new railways and roads – which they hope will help the economy and create jobs.
There has been speculation that the government could announce new spending pledges in the upcoming Autumn Statement, to address matters such as local councils’ finances and safety concerns around school buildings.
Borrowing for the financial year to date has now reached £69.6bn, according to the ONS, which is £19.3bn more than in the same five-month period last year.
However, the total is £11.4bn lower than the amount predicted by the OBR.
Despite this, analysts have questioned how much room Chancellor Jeremy Hunt might have for big spending pledges or tax cuts at the next fiscal event in November.
Experts had predicted public borrowing would stand at £11.1bn last month.
That was £3.5bn more than a year earlier and the fourth highest August borrowing since monthly records began in 1993.
Governments often borrow to boost the economy. They also borrow to pay for big projects – such as new railways and roads – which they hope will help the economy and create jobs.
Experts had predicted public borrowing would stand at £11.1bn last month.
Experts had predicted public borrowing would stand at £11.1bn last month.
Governments often borrow to boost the economy. They also borrow to pay for big projects – such as new railways and roads – which they hope will help the economy and create jobs.
There has been speculation that the government could announce new spending pledges in the upcoming Autumn Statement, to address matters such as local councils’ finances and safety concerns around school buildings.
Borrowing for the financial year to date has now reached £69.6bn, according to the ONS, which is £19.3bn more than in the same five-month period last year.
However, the total is £11.4bn lower than the amount predicted by the OBR.
Despite this, analysts have questioned how much room Chancellor Jeremy Hunt might have for big spending pledges or tax cuts at the next fiscal event in November.
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