00:00Government borrowing figures show the public sector took on significantly less debt in
00:05December than in the same month the previous year.
00:09Official data from the Office for National Statistics show borrowing fell to around £11.6
00:15billion, down by more than a third compared with last December, as tax receipts rose sharply.
00:22The reduction reflects stronger income from taxes and national insurance outpacing modest
00:28growth in public spending.
00:30Economists say this shows public finances are stabilising.
00:34Despite the improvement, total borrowing over the year to December was still among the highest
00:39on record for that nine-month period and debt remains elevated overall.
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