Mixed economic news for chancellor ahead of autumn statement

By Michael Burton | 21 November 2023

The chancellor has received mixed news on the economy the day before the autumn statement, with official figures showing record borrowing last month and higher interest payments offset by better-than-expected tax revenues.

Borrowing in October was £14.9bn pushed up by benefit payments, the second highest October borrowing since monthly records began in 1993 – only beaten by October 2020 during the pandemic.

Want full article access?

Receive The MJ magazine each week and gain access to all the content on this website with a subscription.

Full website content includes additional, exclusive commentary and analysis on the issues affecting local government.

Already a subscriber? Login

Whitehall Finance economy