Latest borrowing figures threaten Osborne's deficit target
by Larry Elliott Economics editor from Economics | The Guardian on (#YEYY)
Budget deficit 10% higher last month than in November 2014 - although one-off factors such as 1.1bn in bank fines played a part
Fears were heightened on Tuesday that George Osborne will miss his deficit reduction targets after the latest official figures showed that the government's budget deficit was 10% higher last month than in November 2014.
The City said the chancellor now faced an uphill struggle to cut the deficit to 68.9bn in the 2015-16 financial year after figures for the first eight months showed borrowing already at 66.9bn.
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