British public borrowing rose to its highest for any November since records began, at 22.017 billion pounds ($26.77 billion), reflecting higher costs for energy subsidies, figures from the Office for National Statistics showed on Wednesday.
Economists polled by Reuters had forecast public sector net borrowing, excluding state banks, of 13.0 billion pounds for the month.
The government's Office for Budget Responsibility forecast last month that borrowing would reach 177 billion pounds this financial year, equivalent to 7.1% of gross domestic product, and remain high at 5.5% of GDP in 2022/23. "The rolling nature of the new fiscal targets, and building demographic pressure, suggest that plans for very modest real-terms increases in departments' budgets in the mid-2020s will not be followed," he said.
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