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Evening Standard

Anna Wise

Government borrowing falls sharply as national insurance hike boosts coffers

Insurance Office for National Statistics the Office for National Statistics UK Government

UK Government borrowing fell sharply to £11.6 billion in December, the ONS said (Gareth Fuller/PA) - (PA Wire)

UK Government borrowing fell sharply to £11.6 billion in December as a spike in tax receipts and national insurance more than outweighed an uptick in spending, official figures show.

The Office for National Statistics (ONS) said borrowing was £7.1 billion, or 38%, less than the same month in 2024.

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