Latest ONS figures show government borrowing reached £11.6 billion in December, lower than City economists’ forecasts of £13.4 billion. That brings the total borrowing across the financial year to £140.4 billion. Above OBR forecasts of £138.3 billion…
Deputy Director for Public Sector Division Tom Davies said:
“Borrowing in December was substantially down on the same month in 2024, as a result of receipts being up strongly on last year whereas spending is only modestly higher. However, across the first nine months of the financial year as a whole, borrowing was fractionally lower than in the same period in 2024.”
Treasury minister James Murray insisted that the UK is “forecast to cut borrowing more than any other G7 country with borrowing set to be the lowest this year since before the pandemic.” Believe it when we see it…
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