Chancellor responds to October's Public Sector Finances statistics

The Chancellor has responded to the ONS public sector finances statistics for October 2022.

Chancellor of the Exchequer, Jeremy Hunt said:

“It is right that the government increased borrowing to support millions of business and families throughout the pandemic, and the aftershocks of Putin’s illegal invasion of Ukraine.

“But to tackle inflation and ensure the economic stability needed for long-term growth, it is vital that we put the public finances back on a more sustainable path.

“There is no easy path to balancing the nation's books, but we have taken the necessary decisions to get debt falling while actively taking steps to protect jobs, public services and the most vulnerable.”