The ONS reported that the decrease stemmed from increased tax revenue and higher National Insurance contributions offsetting government spending. Tom Davies, Deputy Director for the ONS public service division, stated that receipts were "up strongly on last year whereas spending is only modestly higher."
Despite the year-over-year decrease, the December 2025 borrowing figure remains the tenth highest for the month since records began in 1993, without adjusting for inflation. It also exceeds the £8.1 billion borrowed in December 2023.
The figures indicate a significant increase in government revenue, with tax receipts rising by £7.7 billion, or 8.9%, compared to December 2024. The ONS attributed this increase to higher income tax, corporation tax, VAT, and National Insurance contributions.
The government's fiscal policies and overall economic performance are closely watched by economists and financial markets. Government borrowing levels can influence interest rates, inflation, and the overall health of the UK economy.
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