UK borrowing hits £24.5bn in September ahead of 28 Oct Budget

Briefing by News4U · First published 2026-10-22 05:36:09 UTC

Higher-than-expected deficit driven by £10.9bn debt interest, the highest September figure on record.

UK government borrowing rose to £24.5bn in September, £1.9bn above the Office for Budget Responsibility forecast, as debt interest payments reached £10.9bn, the highest September total since records began. [1] [2]

The Office for National Statistics attributed £4bn of the interest cost to inflation-linked bonds after the Iran war pushed up energy prices. Total public debt reached £3tn for the first time, though the debt-to-GDP ratio fell to 94%. [2]

Sources

1. UK government borrowing rises to £24.5bn ahead of Budget

   Financial Times · 2026-10-21 06:10:16 UTC · Summary only

2. UK government borrowing rises to £24.5bn as John Healey prepares for budget

   The Guardian · 2026-10-21 06:48:00 UTC · Full text

Link to this briefing · Back to news