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Tax & Spend

UK Borrows More Than Forecast as Inflation Fuels Debt Costs

  • Figures call into question tax cuts pledged by Truss and Sunak
  • Surging inflation is pushing up payments on index-linked bonds

Photographer: Milkas Hallen/AFP/Getty Images

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UK government borrowing came in higher than forecast in the first four months of the fiscal year as soaring inflation drove up debt costs.