Government borrowing in November was less than expected

Government borrowing declined through November as more money was raised from taxes and less spent on the country’s debt interest payments, according to official data.

Borrowing – the difference between spending and tax taking – was £11.2 billion last month, the lowest November figure since 2021 and lower than economists had expected.

Loan interest declined from £4.7 billion to £3 billion, mainly due to low inflation.

The Office for National Statistics said the government also spent more cash on public services and benefit payments.