UK government borrows 13.549 bln pounds in October
Reuters poll had pointed to borrowing of 22 bln pounds
Figures include only partial estimate of energy bill support
Borrowing likely to rise in months ahead
LONDON, Nov 22 Reuters Britain39;s government borrowed less than expected in October, data showed on Tuesday, although the budget deficit is likely to balloon in the months ahead thanks to energy bill support measures and a slowing economy.
The Office for National Statistics ONS said headline public sector net borrowing totalled 13.549 billion pounds 16 billion last month.
A Reuters poll of economists had pointed to a higher reading of 22 billion pounds, largely because the figures were expected to show large first payments under the government39;s energy bill support to households and energy suppliers.
Tuesday39;s data showed a relatively modest 3.4 billion pounds of other subsidies an initial indicative estimate of the energy bill support measures.
That figure excluded the Energy Bills Relief Scheme for businesses, as estimates were not yet available, the ONS said.
Samuel Tombs, chief UK economist at consultancy Pantheon Macroeconomics, said the full cost of these measures would show up in the coming months.
What39;s more, the downturn in GDP will start to slow the growth rate of tax receipts, and put some upward pressure on benefits spending towards the very end of this fiscal year, he said.
Last week the Office for Budget Responsibility, which…