Boost to Rachel Reeves as UK government borrowing hits three-year low in November

Borrowing hits £11.2bn

UK government borrowing in November hit £11.2bn, as an increased tax take and lower debt interest led to lower than expected levels of borrowing.

According to data from the Office for National Statistics, borrowing – measured as the difference between public sector spending and income – was £3.4bn less than 12 months ago. Figures came in slightly less than economists' expectations, who were polled by Reuters, leading to a boost for the chancellor Rachel Reeves with the new year on the horizon.  Outlook 2025: The state of the UK's capital markets as we enter 2025 According to Jessica Barnaby, deputy director of public sector finances at the ONS, this reduction this was driven by central government tax receipts which "grew com...