The ONS reported that the reduction stemmed from increased tax revenue and higher National Insurance Contributions (NIC) offsetting government spending. Tom Davies, Deputy Director for the ONS public service division, stated that the fall was a result of "receipts being 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, an 8.9% increase, 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 are under scrutiny as it attempts to balance economic growth with fiscal responsibility. The borrowing figures provide insight into the effectiveness of current tax policies and spending controls. Economists are closely monitoring these trends to assess the long-term impact on the UK's national debt and overall economic stability.
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