UK Borrowing Falls But Reeves Plan Undermined by Hefty Revisions.

In November, UK government borrowing decreased due to lower debt-interest payments, resulting in a budget deficit of £11.2 billion, which was below economists' expectations. However, revisions to earlier months showed an increase in borrowing estimates, potentially impacting Chancellor Rachel Reeves' fiscal plans. Slowing growth and rising market interest rates may necessitate additional tax hikes or spending cuts to manage the deficit, with net debt reaching 98.1% of GDP in November. [Extracted from the article]