UK Government Borrowing Surges in November

Rising public sector borrowing casts doubt on Prime Minister's debt reduction pledge.

Public sector borrowing was higher than expected in November, reaching £14.3bn, ahead of economists' expectations of £13bn.
Total government debt was £2.67 trillion at the end of November 2023, equivalent to 97.5% of the UK's GDP.
The increase in borrowing casts doubt on the Prime Minister's pledge to reduce public debt.
Government borrowing for the financial year to date has reached £116.4bn, £24.4bn higher than the same period last year.
The cost of borrowing has increased due to rising inflation.