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Highlights
- Public borrowing rose to £22 billion in November, pushing the deficit to its greatest level seen in November.
- Compared to November 2021, the borrowing in November this year was £13.9 billion higher.
- The inflation levels in the country have been raised due to the significant government spending, which has led to soaring debt interest levels.
November borrowing in the UK reached a record-high level amid soaring debt interest costs. According to the latest data from the Office for National Statistics (ONS), public borrowing rose to £22 billion in November, pushing the deficit to its greatest level in November.
Compared to November 2021, the borrowing in November this year was £13.9 billion higher. Ever since records began to be kept in 1993, the November borrowing levels haven't been this high. With the public sector's expenditure being more than its revenue, its borrowing, which is the gap between spending and tax income, stood at £22 billion.
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Chancellor Jeremy Hunt stated that the Covid-19 pandemic and the Russia-Ukraine war pushed the UK government to take substantial steps for helping millions of companies and households stay afloat. He added that the government aims to bring down the inflation levels by next year, but that involves taking some hard decisions on public finances.
VIDEO LINK: https://www.youtube.com/watch?v=sJNYAL_MJPk&t=118s
The inflation levels in the country have been raised due to the significant government spending, which has led to soaring debt interest levels. Amid the high borrowing costs, Kalkine Media® explores the performance of a few LSE-listed stocks offering positive returns.
ME Group International plc (LON:MEGP)
ME Group International plc's annual and YTD (year to date) returns stood at 83.18% and 79.97% as of 21 December. At around 1:00 PM (GMT), MEGP shares were trading at GBX 113.00, witnessing a fall of 0.44%. The ME Group International plc's had an EPS (earning per share) of 0.06 at the time of writing. Meanwhile, its market capitalisation was standing at £429.09 million.
Nanoco Group plc (LON: NANO)
Nanoco Group plc's returns offered on annual, and YTD basis stood at 105.00% and 103.47% as of 21 December. At around 1:00 PM (GMT), NANO shares were trading at GBX 40.40. The cadmium-free quantum dots specialist had an EPS of -0.01 at the time of writing. Meanwhile, its market capitalisation was standing at £130.26 million.
Hunting plc (LON: HTG)
Hunting plc's returns offered on annual, and YTD basis stood at 105.58% and 87.35% as of 21 December. At around 1:00 PM (GMT), HTG shares were trading at GBX 317.00, witnessing a hike of 0.64%. Meanwhile, its market capitalisation was standing at £519.56 million.
