UK Deficit Falls in First Public Finances Data Since Budget

UK government borrowing fell in November as the economy continued to generate healthy tax receipts and debt costs declined, a modest boost for Chancellor of the Exchequer Rachel Reeves weeks after she unveiled a difficult budget.

The budget deficit stood at £11.7 billion ($15.7 billion) — £1.9 billion less than a year earlier, the Office for National Statistics said Friday. It was the lowest borrowing for the month since 2021, although above the median £10 billion forecast by economists.