Summary
UK government borrowing was higher than analysts expected in November, reaching £11.7 billion. This borrowing amount, however, was still lower than November of last year and marks the lowest November borrowing in the past four years. The borrowing for the current financial year has totaled £132.3 billion.
Key Facts
- In November, UK government borrowing was £11.7 billion.
- Analysts had anticipated the borrowing to be around £10 billion.
- This November's borrowing was £1.9 billion less than November last year.
- It was the lowest amount borrowed in November for the past four years.
- The ONS said higher tax and National Insurance receipts helped reduce borrowing.
- Retail sales fell unexpectedly in November despite Black Friday.
- Total borrowing for the financial year up to November is £132.3 billion.
- Treasury official highlighted a budget aim to reduce debt and borrowing.
