Provisional estimates for public sector net borrowing put the borrowing figure for October at £6.5bn. Borrowing in the same period last year was £7.7bn. The net debt stands at £966.6bn or 62.3% of GDP which is an increase on 2010 when net debt was £836.8bn, 56.5% of GDP. The current budget was £4.5bn in deficit, £0.2bn down on the previous quarter.
Borrowing by central government actually fell by £1.2bn from £7.2bn to £6bn whereas local government borrowing increased from £0.7bn to £1.3bn.
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