UK keeps borrowing

The 1-minute read to get the money news you need with expert adviser commentary.

Borrow like it’s the 60’s

The government borrowed more than expected in September, bringing this year’s total to £210 billion. We’re now sitting on a national debt pile of £2.06 trillion - the highest since 1960. But the International Monetary Fund (IMF) is cheering us on, saying high levels of public debt are “not the most immediate risk” and that governments need to be careful not to withdraw support too early.

Inflation picks up

Prices rose by 0.5% in September, driven by a return to normal restaurant prices after the Eat Out to Help Out scheme ended. Transport costs also went up, with more people buying second hand cars to avoid taking public transport.

Scrap triple lock?

We could see the end of the state pension triple lock, along with cuts to child benefit and foreign aid, under new proposals from the Centre for Policy Studies (CPS). The thinktank is looking for ways to avoid tax rises to fund coronavirus borrowing. The CPS is pretty influential - its director Robert Colvile helped write the Conservative manifesto.

Posties picking up

From today, your local postie will collect parcels from your door for 72p. It wants a bigger share of the parcel delivery market, competing with couriers like DPD, Hermes, and DHL. Royal Mail says its Parcel Collect service will help people who can't face the queues in the post office, and reckons it’s the biggest change to the service since the launch of the post box in 1852.