UK budget deficit rose £1B in November from a year ago to £15.8B as public sector borrowing rose £1.2B to £17.5B

Cindy Allen

Cindy Allen

Dec 21, 2012 – Office for National Statistics

LONDON , December 21, 2012 (press release) –

  • Public sector net borrowing was £17.5 billion in November 2012; this is £1.2 billion higher net borrowing than in November 2011, when net borrowing was £16.3 billion.
  • Public sector current budget deficit was £15.8 billion in November 2012; this is a £1.0 billion higher deficit than in November 2011, when there was a deficit of £14.8 billion.
  • For the period April to November 2012, public sector net borrowing (excluding the capital payment recorded as part of the Royal Mail Pension Plan transfer in April 2012) was £92.7 billion; this is £8.3 billion higher net borrowing than in the same period the previous year, when net borrowing was £84.4 billion.
  • In 2011/12, public sector net borrowing was £121.6 billion; this is £4.4 billion lower than the Office for Budget Responsibility (OBR) forecasted net borrowing for 2011/12 of £126.0 billion.
  • Public sector net debt was £1083.6 billion at the end of November 2012, equivalent to 68.5% of gross domestic product (GDP).

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