UK borrows higher-than-expected 17.4 billion pounds in October, ONS says

Britain's government borrowed a higher-than-expected 17.4 billion pounds ($22.78 billion) in October, official data showed on Friday. Economists polled by Reuters had mostly expected 15.0 billion pounds of public sector net borrowing last month. Finance minister Rachel Reeves is expected to raise taxes in her annual budget on Thursday next week in order to remain on track for her fiscal plans.

Britain's government borrowed a higher-than-expected 17.4 billion pounds ($22.78 billion) in October, official data showed on Friday. Economists polled by Reuters had mostly expected 15.0 billion pounds of public sector net borrowing last month.

Finance minister Rachel Reeves is expected to raise taxes in her annual budget on Thursday next week in order to remain on track for her fiscal plans. ($1 = 0.7639 pounds) (Writing by William Schomberg; Editing by Kate Holton)