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Highest government borrowing in September for five years
UK government borrowing in September hit the highest level for the month in five years, official figures show, highlighting the challenges facing the chancellor ahead of next month’s Budget. Borrowing – the difference between public spending and tax income – was £20.2bn in September, up £1.6bn from the same month last year, the Office for…
UK economy shrank unexpectedly by 0.1% in October
Rachel ClunBusiness reporter PA Media The UK’s economy shrank unexpectedly in the lead up to the Budget, according to the latest official figures. The economy contracted by 0.1% in October, the Office for National Statistics (ONS) said, whereas economists had been expecting it to grow by 0.1%. The economy also shrank by 0.1% in the…
New car sales hit 2m, but EV discounts cant go on, warns SMMT
Theo LeggettBusiness Correspondent Getty Images Government discounts for electric vehicles are “unsustainable”, a major motoring group has warned, as the number of new cars registered in the UK exceeded two million last year for the first time since the pandemic. Nearly 500,000 of the new cars sold were electric, according to new figures from the…
