The Office for National Statistics reported that public sector net borrowing ballooned to £20.3 last month, the highest for any month since records began in 1993, although this was less than economists had expected.
The figure takes net debt up to £845bn, up from £706bn a year ago, equivalent to 60.2% of GDP. However, should the bank bailouts, which also accounted for a large portion of spending, be excluded, the national debt will be closer to 50% of GDP.
Public finances have deteriorated under the recession, which has seen a marked increase in spending on welfare and a fall in tax receipts.
However, there are signs that this may be starting to ease. Monthly tax receipts showed a year-on-year increase for the first time since September 2008 while the number of Britons claiming unemployment benefits unexpectedly fell in November.
Analysts said that the overall level of public borrowing for this financial year was on track to hit the £178bn forecast by the government, but expressed expectations for the economy to grow in the final quarter of the year.








