Hammond gets early Christmas gift as public sector borrowing falls
by Phillip Inman from on (#3BAQG)
Net borrowing at 8.7bn in November but chancellor warned improvement in public finances likely to be cut short in new year
Philip Hammond has been handed an early Christmas present after government borrowing dipped in November, beating City expectations that the UK's slowing economic growth would send the public finances deeper into the red.
Figures from the Office for National Statistics (ONS) show public sector net borrowing, excluding state-owned banks, fell to 8.7bn in November, down 200m on the same month last year.