Government borrowing in December plunged to its lowest monthly total in 18 years following a £1.2billion refund from the EU, new data reveals today. Borrowing was down £2.5billion to £2.6billion in December, the Office for National Statistics said. The one-off refund from the EU was caused by a re-calculation across the bloc and all member states are thought to have received a credit. The UK national debt has risen again to £1.76billion as the Government continues to borrow money. Samuel Tombs, chief UK economist at Pantheon Macroeconomics, said the low public borrowing figure for December reflected 'falling government spending, not a resurgent economy'.

Source: Daily Mail January 23, 2018 10:30 UTC