Government borrowing for October higher than expected

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UK government borrowing was more than £2bn higher than expected in October, according to the latest official figures.

Borrowing - the difference between public spending and tax income - was £17.4bn in October, down from £19.2bn from the same month last year, the Office for National Statistics (ONS) said.

Analysts had expected government borrowing to be £15bn in October, slightly higher than the Office for Budget Responsibility's (OBR) March forecast of £14.4bn.

ONS chief economist Grant Fitzner said while borrowing was down compared to the same month last year, it was "still the third-highest October figure on record in cash terms".