UK Debt Pile Swells To £13.5 Billion On Energy Price Cap Support

UK borrowing surged over the last year due to the government partially covering the cost of household energy bills, official figures out today reveal. The UK’s debt pile swelled £13.5bn last month, up more than £4bn compared to October 2021, according to the Office for National Statistics (ONS). Although high, the figure was far below the £21bn predicted by City analysts. Last month marked the start of the government’s £2,500 energy bill cap, first introduced by former prime minister Liz Truss for two years,…