Consumers are nervously awaiting the budget, reports data provider GfK, wiping out recent recovery in confidence

Darren Jones, the Chief Secretary to the Treasury, says the government is taking “tough decisions” to fix the public finances.

Responding to August’s borrowing figures, Jones says:

“When we came into office, we inherited an economy that wasn’t working for working people. Today’s data shows the highest August borrowing on record, outside the pandemic.

Debt is 100% of GDP, the highest level since the 1960s. Because of the £22 billion black hole in our public finances we have inherited this year alone, we are now taking the tough decisions now to fix the foundations of our economy, so we can rebuild Britain and make every part of the country better off.”