Spending Review 2010: Public sector net borrowing breaks records in September

In September 2010, public sector net borrowing rose to a record £16.2bn much worse than expected. Although for the current financial year so far, pubic sector net borrowing has decreased from £77.4bn in the same period last year to £73.5bn in 2010.

As a result, public sector net debt as a percentage of GDP rose to a record 64.6%.

Chancellor George Osborne is announcing cuts to public sector spending in parliament at 12:30pm today.