Responding to the Public Sector Finances statistics for October 2025, Chief Secretary to the Treasury James Murray said: “Currently we spend £1 in every £10 of taxpayer money on the interest of our national debt.
“That money should be going to our schools, hospitals, police and armed forces. That is why we are set to deliver the largest primary deficit reduction in both the G7 and G20 over the next five years - to get borrowing costs down.
“At the Budget, the Chancellor will set out how we will take the fair choices to deliver on the public’s priorities to cut NHS waiting lists, cut debt and cut the cost of living.”
