Public sector net borrowing totalled a record £23.3 billion in November, according to the Office for National Statistics.
Borrowing over the year to date now stands at £104.4 billion, or roughly 7 per cent of GDP.
November’s borrowing total is a new high, according to the ONS, up from the £17.4 billion recorded in November last year.
The rise has largely propelled by a rise in health and defence spending and more money being given to the European Union.
As a result the current budget showed a £19.9 billion deficit in November 2010, compared with a £14 billion deficit in the same month last year.
Meanwhile, public sector net debt stood at £863.1 billion at the end of November, up from £708.6 billion at the end of November 2009.