UK borrows less than expected this year as Hunt lines up giveaways

Chancellor says bringing down inflation remains one of his main aims as he prepares autumn statement

• Business live – latest updates

The government borrowed less than expected in the first seven months of the financial year as Jeremy Hunt puts the last minute touches to a series of pre-election giveaways in his autumn statement on Wednesday.

Public sector borrowing between April and October was just above £98bn, according to the Office for National Statistics (ONS), and while this was £22bn higher than in the same period last year, it was almost £17bn less than the Office for Budget Responsibility (OBR) forecast in March.