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We also have new data showing a fall in government borrowing.

The UK government borrowed almost £11.25bn last month, the lowest November figure in three years, helped by a rise in tax receipts and a drop in interest payments on the national debt.

“Borrowing this month was over £3 billion less than this time last year and the lowest November borrowing for three years. Central government tax receipts grew compared with last year, while increased spending on public services and on benefits were offset by lower debt interest payable.”