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

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).

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.