Government borrowing remains at highest since pandemic | Business News

Government borrowing is at its highest since the pandemic due to public sector pay rises and the high cost of borrowing, official figures show.

Last month had the third highest September borrowing on record, coming only behind 2020 and 2021, according to data from the Office for National Statistics (ONS).

While more money came in from tax, it was outweighed by increased spending which the ONS said was partly due to higher interest rates on the debt and public sector pay rises.

This breaking news story is being updated and more details will be published shortly.

Please refresh the page for the fullest version.

You can receive breaking news alerts on a smartphone or tablet via the Sky News app. You can also follow @SkyNews on X or subscribe to our YouTube channel to keep up with the latest news.