ONS figures show public sector net borrowing was £11.7bn – £1.9bn less than in same month last year
The UK government borrowed more than expected in November, official figures show, amid pressure on the economy before chancellor Rachel Reeves’s autumn budget.
Figures from the Office for National Statistics (ONS) showed public sector net borrowing – the difference between spending and income – was £11.7bn last month, £1.9bn less than in the same month a year earlier.
In the first snapshot since the November budget, the reading was above City predictions of a £10bn deficit.
Tom Davies, an ONS senior statistician, said: “Despite an increase in spending, this month’s borrowing was the lowest November for four years. The main reason for the drop from last year was increased receipts from taxes and national insurance contributions.
