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UK monthly borrowing hits third-highest figure on record
The UK Government borrowed £31.6bn in November, the third-highest figure on record.
A combination of the furlough scheme, ongoing business loan programmes, and spending on Covid-related operations such as Test and Trace and the vaccine rollout has seen borrowing spike.
The Office for National Statistics began monitoring borrowing figures in 1993.
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The latest figures from the Treasury watchdog the Office for Budget Responsibility expect total 2020 borrowing to hit £394bn.
The UK’s national debt now stands at £2.1trn.