UK government borrowing fell to £11.2bn in November, the lowest figure for the month in three years, according to official data released by the Office for National Statistics (ONS).
The ONS reported that public sector net borrowing — the difference between public sector spending and income —was £3.4bn lower than in the same month last year, providing a boost for chancellor Rachel Reeves.
Economists had predicted borrowing of £13.3bn for the month, making the actual figure a positive surprise. The new data also revealed that central government debt interest fell to £3bn in November, the lowest level for the month in five years.
This decline was largely attributed to movements in the retail price index (RPI), a key measure of inflation that tracks the prices of goods in shops, the ONS explained.