Record Government borrowing

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Government borrowing reached record high in November Figures from the ONS show government borrowing reached £31.6bn last month, the highest November figure since records began. That is also the third highest monthly figure ever. Since the start of the financial year, the UK has borrowed almost £241bn. The total national debt has hit £2.1trn. Meanwhile, official figures show the economy bounced back in the third quarter more strongly than previously thought. In those three months the economy was up 16%, while remaining down 8.6% across the year. However, those figures came before the latest virus fears and there is now a growing expectation that the economy will slump again post-Christmas, leading to a dreaded “double-dip” recession.

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