UK Borrowing Slips to £17.4 Billion in November

Source: Office for National Statistics

Public borrowing in the United Kingdom declined in November, following the record-high seen the same month a year ago. EWU is up 0.72% premarket.

• Public sector net borrowing was estimated at £17.4 billion in November, down by £4.9 billion a year ago. 
• The latest figure is the second-highest November reading since records started in 1993.
• Year-to-date borrowing plunged to £130.6 billion or £115.8 billion lower than the comparable period in 2020.
• Year-to-date public sector net debt excluding public sector banks stood at £2.317 trillion or 96.1% of the gross domestic product. This is the highest since March 1963’s 98.3$.
• Central government receipts were £61.1 billion, £2.5 billion or 4.3% higher than the same month last year.
• Central government bodies’ spending declined by £5.7 billion or 6.9% from November 2020.
• Government net cash requirement fell by £10.9 billion to £13.1 billion, bringing the year-to-date total to £114.2 billion.