Government borrowing lower than expected in November

Published On Dec 20, 2024, 2:18 AM

In November, the UK government reported lower borrowing than anticipated, with a total of £11.2 billion, which is the least amount borrowed for that month since 2021. This decrease is attributed to higher tax revenues and a significant reduction in debt interest payments, which fell by £4.7 billion to £3 billion due to lower inflation. The government also allocated more funds towards public services and benefits.