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Government borrowing is at its highest since the pandemic due to public sector pay rises and the high cost of borrowing, official figures show.
Government borrowing is at its highest since the pandemic due to public sector pay rises and the high cost of borrowing, official figures show. Last month had the third highest September borrowing on record, coming only behind 2020 and 2021, according to data from the Office for National Statistics (ONS). While more money came in from tax, it was outweighed by increased spending which the ONS said was partly due to higher interest rates on the debt and public sector pay rises.
