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LONDON (Reuters) – UK public borrowing has been halved in the first eight months of 2021/22, with Finance Minister Rishi Sunak deepening his pandemic emergency spending program compared to a year earlier.
Official data released on Tuesday between April and November reduced public sector debt to £ 136bn, almost £ 116bn less by 2020, the National Statistics Office said.
But the figure was still almost triple in April-November 2019, before the pandemic.
Sunak is under pressure to provide new support to the hospitality and other sectors of the economy as the latest jump in COVID-19 cases has resulted in a highly transmissible variant of the Omicron coronavirus.
Net public sector debt for November alone, excluding state-owned banks, stood at £ 17.4 billion in November, more than the average forecast of £ 16 billion in a survey of economists at Reuters.
But borrowing in October fell to £ 12.4bn from £ 18.8bn previously reported, according to official data.
($ 1 = £ 0.7565)
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