Economists warned the ‘walls are closing in’ on Andy Burnham today as figures showed Government borrowing surging ahead of forecasts.
The public sector borrowed £18.3billion last month, up around a fifth on August 2025, as rising tax revenues failed to keep pace with Labour’s spending.
That was around £3billion more than expected, and £3.5billion more than the Treasury’s Office for Budget Responsibility (OBR) watchdog predicted.
Some £8.8billion went on interest payments for the debt mountain, which was hovering just below £3trillion.
The grim picture came as ministers brace for the impact of the latest spike in energy prices from the Middle East chaos.
Fears are
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