Rolling coverage of the latest economic and financial news, as UK borrowing hits a new record high and car production almost halves
- UK borrowed £35.9bn in August – a record for the month
- Borrowing since August has hit £173.7bn – another record
- Car factory output tumbled 44% last month
Cumulative borrowing in the UK this fiscal year is significantly higher than last year pic.twitter.com/z33MZoFQfY
As a proportion of the economy, Britain’s national debt is now its highest level since 1961 (at nearly 102% of GDP).