By Marcus Leach

Official figures have shown that the government borrowed much more than expected in October.

The Office for National Statistics data comes as a blow, as it means the chances that the UK will hit its deficit reduction target in 2012-13 are very slim.

UK public sector net borrowing, excluding financial interventions, hit £8.6bn in October. That marked a sharp rise from the £5.9bn borrowed in October 2011.

This is the last set of borrowing figures before the chancellor's Autumn Statement on 5 December.

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