Uk Energy source

UK Government borrowing is set to rise as the cost of energy bills are set to increase. The UK paid for energy support initiatives from October last year as borrowing rose from a year ago. The figure was £4.4 billion, the fourth highest on record, and above the predicted £21 billion. The Chancellor said this borrowing was a result of Russia’s invasion of Ukraine. Jeremy Hunt also said he wanted to ensure the public finances were in an economic position that makes economic stability possible for long-term growth.
It’s been a good year for the British Government. In addition to an £80 billion budget black hole and the NHS at breaking point, they decided they would spend up to £1.9 billion on what started last month as a £400 energy bill support scheme which by the end of October had already cost them over £2bn thanks to two new schemes that proved so popular that both began in October. KPMG senior economist Michal Stelmach said: “The public finances continue to face a tug of war between demand for energy support and the overarching need to balance the books.”