bbc.com

UK Government Borrowing Falls Below Expectations in November

In November, UK government borrowing reached £11.2 billion, significantly lower than the anticipated £13 billion, marking a £3.4 billion decrease from the previous year. This decline is attributed to increased tax revenue and reduced debt interest payments amid lower inflation. Retail sales saw a slight rise of 0.2% despite declines in clothing sales, as figures revealed stronger supermarket trading. Economists suggest the Chancellor Rachel Reeves may experience temporary relief, but caution about potential future tax increases or spending cuts due to economic weaknesses.

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