UK government borrowing dips in October

UK government
UK government borrowing dipped in November.

Public borrowing was less than expected for October.

According to the Office of National Statistics, UK borrowing last month was £18.8bn – £200m less than a year ago.

Economists polled by Reuters estimated borrowing to be £13.8bn.

UK government debt is the highest since the early 1960s.

 “Public borrowing is falling much less quickly than earlier this year, reflecting the slowing of the economic recovery and the pick-up in inflation, which determines interest payments on index-linked gilts,” said Samuel Tombs, chief UK economist at Pantheon Macroeconomics.