UK government borrowing lower than expected in December - ONS data
UK public sector net borrowing rose in December, the Office for National Statistics reported on Thursday.
Net borrowing, the difference between total public sector spending and income, was £11.58 billion in December, below the FXStreet-cited market consensus estimate of £13.5 billion.
The December total was above November’s net borrowing of £10.94 billion, which was revised downwards from £11.65 billion. It was down 38% from December 2024.
Borrowing in the financial year to December was £140.4 billion, the ONS reported. This was around £300 million, or 0.2%, less than in the same nine months in 2024, ‘but still the third-highest April to December borrowing on record (not adjusted for inflation), after those of 2020 and 2024’.
Also for the financial year so far, the current budget deficit was £5.8 billion in December, bringing the total current budget deficit in the financial year to December to £94.9 billion. This was £1.6 billion or 1.6% less than in the same nine-month period of 2024.
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