Vicky Redwood, chief UK economist at Capital Economics, said borrowing is on course to overshoot "significantly" the official full-year forecast of £120 billion.
The main problem remains a sharp slowdown in tax receipts. And with the economy probably still in recession, receipts are likely to remain weak.
The combination of worsening public finances and renewed recession is likely to intensify calls for the Government to change tack on its austerity programme.
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The Duke and Duchess of Cambridge met young people who have battled mental health issues on Saturday.
Former Chancellor Lord Geoffrey Howe was Margaret Thatcher's longest-serving Cabinet minister, also taking on the role of Foreign Secretary.
Lord Geoffrey Howe is known by many for his resignation speech which was seen as the catalyst which destroyed Margaret Thatcher.