UK government borrowing rises to £24.5bn as John Healey prepares for budget

The UK government recorded a budget deficit of £24.5 billion for September, a figure that exceeded expectations. This increase in borrowing was driven primarily by rising inflation, which significantly elevated the cost of interest payments on national debt.

Government expenditure on debt interest reached £10.9 billion during the month, marking the highest September figure since record-keeping began. These fiscal results arrive as the Treasury prepares for the upcoming budget, placing additional pressure on government officials to manage the country's financial obligations.