UK Borrowing Overshoot Grows to £9.9 Billion Ahead of Budget

Britain remains on course to borrow billions more than forecast this year, underscoring the perilous state of the public finances as Chancellor of the Exchequer Rachel Reeves prepares her make-or-break budget.

The deficit in the first seven months of the 2025-26 fiscal year climbed to £116.8 billion ($153 billion) — £9.9 billion more than the Office for Budget Responsibility projected in March. Borrowing in October alone came in above forecasts at £17.4 billion, the third-highest for the month on record.