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Public borrowing rises

Public borrowing rises
Further doubt was cast on whether the Government will meet its deficit target after new statistics showed public sector net borrowing rose last month and a warning about Britain’s growth prospects.

The Office for National Statistics figures found public borrowing rose £2.7bn to £8.6bn in October, while debt stands at 67.9% of GDP.

There was more bad news for the Government after Bank of England minutes showed members of the Monetary Policy Committee feel the UK’s economy could contract in the final quarter of this year.

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