Government borrowing was higher than expected in September at £11.8bn. It pushed the deficit in the first half of the year to £58bn, about 10% higher than the same period a year earlier. Persistently weak tax receipts, despite economic recovery, have been the main driver of higher borrowing, putting at risk the chancellor’s target of a 10% reduction in the deficit over the full year. Here, some of the UK’s economists respond to the latest borrowing figures from the Office for National Statistics.

Martin Beck, senior economic advisor to the EY ITEM Club

It is a case a déjà vu with the release of yet another set of weak public finances figures. These figures come as even more of a disappointment when seen in the context of the better than expected performance of the UK economy. Weak tax receipts are the main source of the problem, with income tax being a particular cause for concern.

Overall deficit reduction has not just stalled, but started to go into reverse. With only one month’s worth of data still to be released before the Autumn Statement [on 3 December], the probability of the Office for Budget Responsibility [the Treasury’s official forecaster] having to make some hefty upward revisions to their borrowing forecasts is increasing. As it stands borrowing would need to undershoot last year’s figures by almost £3bn a month over the second half of 2014-15 to achieve their March forecast.

Frances O’Grady, TUC general secretary

It’s time for George Osborne to admit he got his strategy wrong. Today’s figures show the deficit getting bigger as tax revenues dry up. The 90,000 people who marched through the streets of London on Saturday calling for a pay rise understand that it’s not just British workers who need wages to go up, but that’s what the Treasury and the economy needs too.

Only a wages-led recovery can bring about the boost in demand that businesses need and the boost in revenue that the government needs to cut the deficit and invest for the future.

Victoria Clarke, economist at Investec

The message from today’s borrowing report is similar to that of recent months, with the softness of tax receipts becoming a continuing theme. The continued softness of income tax flows has raised questions over whether this is symptomatic of a narrowing in the tax base with adjustments over the Coalition’s term in government lifting the tax-free bar, shifting more income out of the bracket eligible for income tax payments.

With the 3 December Autumn Statement not far off now and the 7 May General Election approaching too, questions are already being asked about whether the Coalition has any space to make some pre-election giveaways. With deficit reduction a key metric on which the success of the Coalition is likely to be assessed, it is easy to see why the Treasury would be working out how they can salvage some success on the 2014/15 deficit, whilst the political strategists are no doubt calculating which local giveaways need to be made to earn some points in key electoral locations.

David Kern, chief economist at the British Chambers of Commerce

Any prospects of the government reaching its debt reduction target outlined in the last budget appear to have vanished. Despite strong economic growth, the government’s ability to generate tax revenue has deteriorated due to weak earnings growth, the decline in oil and gas outputs, and the challenges facing the financial sector.

We must adjust to this new reality, while persevering with a long term plan to reduce current public sector spending. It is important for all political parties to resist the temptation to make pre-election promises that might have harmful long-term effects on the economy.

Alan Clarke, economist at Scotiabank

Six months into the fiscal year and all six months have shown a deterioration in borrowing compared with the same month a year ago. If this trend continues, then full year borrowing will be £108bn - about £10bn worse than forecast in the budget.

If the majority of the increase in employment has been among low paid workers, and the starting rate of income tax has been raised to £10,000, then don’t be surprised if income tax receipts don’t rise that fast. On the plus side, government expenditure on benefits had been falling in line with the drop in claimant count unemployment. Unfortunately, that has suffered a setback in the last month or two. Similarly, the booming housing market has seen stamp duty receipts rise, but that accounts for only a small share of overall tax receipts.

Overall, it is not great news. The economy is growing well, but the strong parts of the economy are not particularly lucrative in terms of tax receipts. The autumn statement will give us an update on where things stand, but expect a lot of red pen.

Sumita Shah, public sector policy manager at ICAEW (institute of chartered accountants in England and Wales)

These figures make grim reading for the Chancellor. Our economic recovery has, on the face of it, been progressing this year, but the underlying debt and deficit figures tell a different story. We are paying a colossal amount of interest per year, a sum larger than it costs to run a number of individual government departments. UK debt is now 79.9% of GDP, and is getting close to being unsustainable at a time when we already expect economic growth to slow down in 2015.

There are less than 200 days until the general election, and these figures suggest that giveaways in the autumn statement will be few and far between. The government has some tough choices to make if it is to reduce our debt and deficit. A long-term approach must be taken that takes politics out of the equation.

Howard Archer, economist at IHS Global Insight

The Chancellor is looking ever more unlikely to meet his fiscal targets for 2014/15. This means that Mr Osborne faces an awkward fiscal backdrop as he announces his autumn statement in December as the May 2015 general election draws every nearer. This gives him little scope to announce any major sweeteners.

It looks inevitable therefore that extra fiscal tightening will be needed in the new parliament, which means that fiscal policy and the public finances will be a key battleground for the political parties. Any tax promises and spending initiatives by the political parties in the run-up to the general election will need to be closely examined.