State borrowing data to cast light on task ahead for chancellor

Chris Papadopoullos
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George Osborne Visits A Construction Site A Day After Delivering His Autumn Statement
If November's borrowing is worse than expected, George Osborne will have his work cut out for him (Source: Getty)

Public borrowing figures this week will partly reveal the size of the boost needed in January to meet the government’s budget deficit target.

The government borrowed £54.3bn between April and October, with most economists expecting chancellor George Osborne to miss the £68.9bn forecast by the Office for Budget Responsibility (OBR) for borrowing in the year to April 2016. November borrowing hit £13bn last year, which is expected to fall by around £1bn.

The OBR said last month that it expects the target will be met due to a predicted jump in self-assessment tax receipts in January.

Osborne is aiming to completely eliminate the deficit by 2020, running a small surplus by that time.

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