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Story summary
- UK government borrowing hit £18 billion in August, the highest in five years, raising concerns for Chancellor Rachel Reeves before the autumn budget.
- Year-to-date borrowing totals £83.8 billion, surpassing previous years and forecasts.
- Experts now deem tax increases "inevitable" to mitigate the fiscal shortfall.
- Rising interest costs and increased public spending drive the borrowing surge.
- Public sector net debt reaches £2.91 trillion, approximately 96.4% of GDP.
