UK public sector sees record high borrowing for December

More than double 2021

UK public sector borrowing more than doubled in December 2022 versus a year prior, research from the Office for National Statistics has found.

The data revealed that public sector borrowing hit £27.4bn in December 2022, up from the revised £10.7bn in the same month in 2021, and the highest December borrowing since monthly records began in 1993. This was well above the forecasts of £17.6bn and £17.7bn, from economists polled at Reuters and the Office for Budget Responsibility, respectively. Consumer confidence in the UK claws back after improvement in Q4 According to the ONS, the sharp increases in energy prices were a primary cause of the spike, as well as an increase in debt interest. While gas prices have dropped dow...