Governor Yaron urges next coalition to cut debt and pursue growth reforms to fund security needs; bank raises forecasts but warns overseas production distorts domestic picture

Government paid £10.9bn in debt interest, the highest September figure since records began

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The Treasury ran a higher than expected budget deficit of £24.5bn last month as rising inflation pushed up the interest paid on government debt, increasing pressure on John Healey before his budget next week.

Official figures show the government paid £10.9bn in debt interest: the highest September figure since records began, and only the eighth time the monthly number has been above £10bn.

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© Photograph: Kirsty O’Connor/Treasury

© Photograph: Kirsty O’Connor/Treasury

© Photograph: Kirsty O’Connor/Treasury