In October 2022, the public sector spent more than it received in taxes and other income, requiring it to borrow (public sector net borrowing, PSNB ex) £13.5 billion, which was £4.4 billion more than in October 2021 and the fourth highest October borrowing since monthly records began in 1993. Public sector total expenditure was £91.2 billion in October 2022; of this, central government current (or day-to-day) spending was £76.8 billion, £6.5 billion more than in October 2021. This month we have recorded the first indemnity payment from HM Treasury to the Bank of England Asset Purchase Facility Fund and the first ... (full story)