Borrowing figure likely to trouble

Economists have said Chancellor Philip Hammond may have cause for concern after public sector borrowing came in well above expectations in August, due to slower tax income and higher spending.

Public sector net borrowing, excluding state-owned banks, rose by £2.4 billion in August, to £6.8bn, the Office for National Statistics (ONS) said yesterday. Economists had expected borrowing for August of about £3.4bn.