UK borrowing costs rose unexpectedly to £17.8billion in December, but Chancellor Rachel Reeves remains confident in the country's financial health following the October budget. This figure was around 25 per cent higher than what economists had predicted and was £10.

Chancellor Rachel Reeves has been accused of creating a "toxic cocktail" of tax rises and spending hikes after government borrowing soared on her watch. She complained that the Conservatives left a £22billion "black hole" in the public finances after Labour won last year's election and vowed to fix the problem.

Since coming to power in July, Reeves has faced criticism for several of her decisions including removing the winter fuel payment from all but the poorest pensioners, changing inheritance tax rules for farmers and opting not to compensate women affected by changes to the state pension age.

UK borrowing reached £17.8bn in December, which was the highest figure for the month in four years, putting further pressure on Chancellor Rachel Reeves.

Rachel Reeves has insisted the UK would continue to meet her “fiscal rules”, describing them as the “bedrock” of economic stability.

Rachel Reeves has found brief respite this morning, with the Office for National Statistics confirming that inflation dipped to 2.5 per cent in the 12 months to December, down from

After 14 years of economic stagnation, this Government’s number one mission is to grow our economy. I will fight every day to deliver that growth and put more money into working people’s pockets'

Treasury borrowing has already shot past official forecasts made in the Budget in a blow to Rachel Reeves’s plans to ramp up spending. Britain has already borrowed £4.1bn more so far this financial year than was projected by the Office for Budget Responsibility (OBR) in its updated estimates in October, official figures show.

Chancellor Rachel Reeves has insisted she will “fight every day” to deliver economic growth after the latest official figures showed weaker-than-expected expansion in November.

The high street suffered a weak Christmas with retail sales falling by 0.3% in December, according to latest official figures.

Chancellor Rachel Reeves speaks to the media as it is revealed the UK economy sees weaker-than-expected growth in November. The Office for National Statistics (ONS) estimated the UK economy grew in November by 0.

GDP inched forward by just 0.1% in November in new blow for Rachel Reeves - The growth will do little to ease fears of a technical recession for the UK economy over the winter