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UK public borrowing totals 18.8 billion pounds in Oct -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Street scenes in London during July 29th, 2021, when there was a coronavirus pandemic (COVID-19). REUTERS/Henry Nicholls/File Photograph

LONDON, (Reuters) – The total net borrowing of the British public sector, excluding state banks was 18.799 Billion Pounds ($25.38 Billiom) for October. Official figures were released on Friday. This is higher than economists’ average prediction in a Reuters poll that had 13.8 billion pounds.

Public sector net cash requirements rose to 61.452 Billion Pounds in October, from 6.061 Billion Pounds in September. This was driven by the expansion of Bank of England’s Term Funding Scheme that supports lending.

($1 = 0.7408 pounds)

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