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Economy alert: Borrowing costs rise to 5-YEAR HIGH ahead of Rachel Reeves’s Budget

by 21/10/2025
1 min read

Public sector net borrowing in the UK excluding public sector banks, came to £20.2billion in September 2025, according to the latest figures from the Office for National Statistics (ONS).

This comes as a further blow to Chancellor Rachel Reeves ahead of her Autumn Budget on November 26, in which she is expected to announce tax rises and spending cuts in an effort to balance then books.

Notably, the September 2025 was £1.6billion more than in the year before and represents the highest September borrowing for five years.

Overall, UK borrowing in the financial year to September 2025 was £99.8billion, which was £11.5 billion more than in the same six-month period of 2024.

Rachel Reeves

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