Latest Government Borrowing Figures Lower Than Expected

The government has borrowed less than expected in Dec. 2023, official data shows. Britain’s budget deficit in Dec. 2023 was £7.8 billion, which was £8.4 billion less than what was borrowed in Dec. 2022 and the lowest December borrowing since 2019. Experts had expected it to reach £11.4 billion. The release by the Office of National Statistics (ONS) showed that borrowing in the first nine months of 2023/2024 was £119.1 billion. This is £11.1 billion above the same period last year but £4.9 billion below the forecast by the government’s budget watchdog. The Office for Budget Responsibility (OBR) said that the difference with its forecast is explained by lower debt interest payments, reflecting lower-than-expected inflation....