Government borrowing in December surges to £17.8 billion

£18bn borrowing costs at four-year high as Reeves’s Budget headache worsens

The Office for National Statistics says public sector net borrowing in December was up £10.1bn on a year earlier

Rachel Reeves is urged to avoid a 'doomed loop' of spending cuts after government borrowing soared to £17.8bn in December - a four-year high

Borrowing - the shortfall between tax revenues and spending - hit £17.8 billion in December, £10.1 billion up on last year and £3.7 billion above a forecast by the Office for Budget Responsibility (OBR).

UK public borrowing surges, adding to gov't pressures

London, United Kingdom — UK public borrowing jumped more than expected in December, official data showed Wednesday, adding pressure to the Labour government and Prime Minister Keir Starmer as they battle economic headwinds. Public-sector borrowing stood at £17.8 billion ($21.9 billion) last month, a £10 billion increase from December 2023, the Office for National Statistics

Further tax rises 'a good bet' after Chancellor's borrowing blow

Further tax rises or spending cuts look increasingly likely after the latest borrowing figures, but there were a few silver linings for the Chancellor. Figures from the Office for National Statistics (ONS) showed that government borrowing hit £17.8bn in December, over £10bn more than the year before and well ahead of City forecasts. Borrowing in the month of December was at its third highest level since monthly records began back in 1997, exclud…

Government borrowing overshoots expectations in December as interest spikes

According to figures from the Office for National Statistics, the government borrowed £17.8bn in December, well ahead of the £14.6bn expected by the OBR

U.K. Government Borrowing Jumps as Interest Payments Rise

Interest payments were £3.8 billion higher than in the same month of 2023