Public borrowing hit £20.3bn in November

Friday 18th December 2009

Public sector borrowing hit a record high of £20.3 billion last month, it has been revealed.

The figure takes the UK's net debt to 60 per cent of total economic output, the highest for any month since records began.

The Office for National Statistics revealed public sector borrowing is now £4.9 billion higher than the same month last year.

Financial experts had predicted an even higher figure on the back of the announcement by the government it expects national debt to reach £1.5 trillion by 2015.

Government debt as a percentage of the country's GDP has risen significantly since the start of the financial crisis.

Earlier this week official figures showed unemployment rose to 2.49 million in October.

In his pre-Budget report last week chancellor Alistair Darling was forced to revise the predicted figure for how much the economy is expected to contract by this year from 3.5 per cent to 4.75.

The public deficit was also revised from £175 billion to £178 billion. ADNFCR-1783-ID-19520081-ADNFCR

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