The gross borrowing needs of OECD governments are projected to increase slightly to around USD 10.9 trillion in 2013, up from the already high level of USD 10.8 trillion in 2012, according to a new OECD report.

The gross borrowing needs of OECD governments are projected to increase slightly to around USD 10.9 trillion in 2013, up from the already high level of USD 10.8 trillion in 2012, according to a new OECD report.

Defying Brexit doomsayers, the deficit came in at £4.3billion in October - below the £6billion expected. The figures emerged on the eve of Philip Hammond's Autumn Statement.

The OBR forecast a £122billion rise in UK debt, with £58.7billion blamed on Brexit. That came as it said the UK would not fall into a recession, but growth would be lower.

Ministers spent £12.6billion more than they received in taxes and other income last month - but economists were pencilling in a figure of £11.6 billion.