The OBR has raised its borrowing forecast by about £18bn for this financial year compared with its March forecast, according to figures published alongside the Budget on 28 October. PA reports that borrowing is also about £16bn higher in 2027/28 and an average of about £11bn a year higher after that.
The Telegraph puts borrowing this year at £133bn, almost £18bn more than expected in March. That matches the PA figure for the revision. The Telegraph also reports that debt interest will cost £124bn this year.
The higher borrowing for the rest of the parliament is mainly down to higher inflation forecasts, according to analysis by XTB.
The Chancellor, John Healey, told the Commons that the OBR forecasts borrowing falling every year, from 4.2% of GDP this year to 1.8% in 2030/31. The revised figures mean that path starts from a higher level than the OBR expected in March.