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November borrowing higher than expected
Western Mail
|December 20, 2025
CHANCELLOR Rachel Reeves, pictured, has been offered “very little Christmas cheer” after official figures showed higher-than-forecast.
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government borrowing for November.The Office for National Statistics (ONS) said borrowing stood at £11.7bn last month, £1.9bn less than in November last year and the lowest November level for four years thanks to a sharp fall in debt interest payments.
But the figure was more than the £10bn expected by most economists and the £8.6bn forecast in March by the UK's independent fiscal watchdog, the Office for Budget Responsibility (OBR).
The OBR’s monthly forecasts from the Budget on November 26 are not available until mid-January, according to the ONS.
This story is from the December 20, 2025 edition of Western Mail.
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