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Budget 2021: Government debt interest bill to swell £16bn more than previously expected
![](https://www.cityam.com/wp-content/uploads/2021/10/UK-Chancellor-Of-The-Exchequer-Presents-Autumn-Budget-And-Spending-Review-1349363984.jpg?w=742)
The government’s debt interest bill is set to swell by billions over the next year driven by inflation accelerating at a fiery print than the fiscal watchdog expected.
The Office for Budget Responsibility (OBR) revised up its forecasts for the government’s debt interest payments by around £16bn for this year.
More to follow.