UK borrows £18bn in August, putting pressure on Healey before budget
Summary
The UK government borrowed £18.3 billion in August 2026, more than expected, which increases pressure on Chancellor John Healey before the upcoming budget. This borrowing is higher than forecasts and adds to the growing public deficit for the financial year.Key Facts
- The UK borrowed £18.3 billion in August 2026, which is £2.9 billion more than August 2025.
- This borrowing exceeded forecasts by analysts and the Office for Budget Responsibility (OBR).
- The total borrowing for the financial year so far is £77.3 billion, £8.1 billion above official forecasts.
- Chancellor John Healey plans to stick to government spending limits despite rising borrowing.
- The UK has faced rising interest rates on government bonds, increasing borrowing costs.
- The International Monetary Fund has advised governments to control public spending to reassure lenders.
- Treasury chief secretary Emma Reynolds emphasized the need for fiscal discipline to support economic growth.
- The Conservative party criticized the Labour government for high borrowing despite record tax revenues.
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