UK public finances worsen on energy support, inflation

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UK public finances worsen on energy support, inflation
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Public sector net borrowing hit £13.5 billion ($16 billion) in October, from £9.2 billion a year earlier, the Office for National Statistics said in a statement.

LONDON - British state borrowing jumped last month on fallout from costly energy support and soaring inflation, official data showed Tuesday.

The government unveiled household energy support measures earlier this year to cushion a cost-of-living crisis, as prices rocketed after key producer Russia's invasion of Ukraine. "It is right that the government increased borrowing to support millions of business and families," finance minister Jeremy Hunt said in response to the data.

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