UK annual government borrowing higher than forecast in blow to Chancellor

Nation.Cymru

UK annual government borrowing higher than forecast in blow to Chancellor

Chancellor Jeremy Hunt . Photo Aaron Chown PA Images Chancellor Jeremy Hunt has been dealt a blow after official figures revealed borrowing for the last financial year overshot forecasts, hitting £120.7 billion as wages and benefit payments soared. The Office for National Statistics (ONS) estimated that full-year public sector net borrowing was £7.6 billion less than in 2022-23, but £6.6 billion more than predicted by the UK’s official forecaste…