The UK budget deficit narrowed more than expected in December driven by the increase in tax receipts, data from the Office for National Statistics showed on Thursday.
Public sector net borrowing decreased GBP 7.1 billion from the previous year to GBP 11.6 billion in December. This was below economists' forecast of GBP 13.4 billion.
While borrowing was the lowest for December in two years, it still represented the tenth highest December borrowing since records began in 1993.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.