|  Updated: 

Budget 2021: Government debt interest bill to swell £16bn more than previously expected

UK Chancellor Of The Exchequer Presents Autumn Budget And Spending Review
The Office for Budget Responsibility (OBR) revised up its forecasts for the government’s debt interest payments by around £16bn for this year (Photo by Dan Kitwood/Getty Images)

The government’s debt interest bill is set to swell by billions over the next year driven by inflation accelerating at a fiery print than the fiscal watchdog expected.

The Office for Budget Responsibility (OBR) revised up its forecasts for the government’s debt interest payments by around £16bn for this year.

More to follow.