Budget deficit down over £100 billion so far in 2021-22

Government borrowing in October 2021 was £18.8 billion, down £0.2 billion from last year. But year to date borrowing of £127.3 billion is down £103.4 billion (44.8 per cent) on the same period last year. This reflects the economic recovery boosting receipts and the lower cost of pandemic-related support schemes, but is partially offset by a sharp rise in debt interest payments thanks to higher RPI inflation in recent months.