Treasury blames borrowing spike on 'dire inheritance'

The Exchequer Secretary to the Treasury has blamed a “dire economic inheritance from the previous government” on a jump in Government borrowing last month.

Official figures on Friday showed public sector debt hit 100% of gross domestic product in August for the first time since the early 1960s.

James Murray said the latest Government borrowing figures were “far worse than expected”, having come in higher than forecast by the Office for Budget Responsibility.

Report by Covellm.

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