The ONS reported that this figure represents a £7.1 billion decrease, or 38%, compared to December of the previous year. While lower than economists' predictions, the December 2025 borrowing remained higher than the £8.1 billion recorded in December 2023.
Tom Davies, Deputy Director for the ONS public service division, attributed the decrease to a significant increase in government receipts compared to a modest rise in spending. The figures indicate that government tax receipts rose by £7.7 billion, an 8.9% increase, compared to December 2024. This increase was driven by higher income tax, corporation tax, VAT, and National Insurance contributions (NIC).
Despite the year-on-year decrease, the December 2025 borrowing figure was the tenth highest for the month since records began in 1993, without adjusting for inflation. The figures provide a snapshot of the government's financial position as it navigates economic challenges and policy priorities.
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