The UK’s public borrowing rose to its highest for any November since records began, at £22.017 billion , reflecting higher costs for energy subsidies, figures from the Office for National Statistics showed on Wednesday.
Public borrowing for the first eight months of the financial year, from April to November, totalled £105.4 billion up by £7.6 billion from the same period in 2021.
The government’s Office for Budget Responsibility forecast last month that borrowing would reach £177 billion this financial year, equivalent to 7.1% of gross domestic product, and remain high at 5.5% of GDP in 2022/23.
Government measures including the energy bills support scheme, the energy price guarantee and the energy bill relief scheme, came into effect last month to help businesses and consumers with soaring energy costs.
