LONDON (dpa-AFX) - The UK budget deficit rose to the third highest level since records began in 1993, the Office for National Statistics reported Tuesday.
The budget deficit excluding public sector banks widened by GBP 26 billion from the last year to GBP 31.6 billion in November.
This was the highest November borrowing and the third-highest borrowing in any month since monthly records began in 1993.
With declines in Value Added Tax and Business Rates, tax receipts decreased GBP 3.2 billion to GBP 38.9 billion.
At the same time, largely due to a GBP 5.9 billion additional expenditure on coronavirus job support schemes, central government bodies spent GBP 80.6 billion on day-to-day activities in November.
During April to November, public sector net borrowing surged GBP 188.6 billion to GBP 240.9 billion, the highest borrowing in any April to November period since records began in 1993.
Copyright RTT News/dpa-AFX
© 2020 AFX News