UK debt: 'We've got a hard task ahead of us'
24 January 2012 Last updated at 13:43 GMT
The government's overall debt has reached £1tn for the first time, equivalent to 64% of Britain's annual economic output.
Borrowing in December fell by more than expected, to £13.7bn - £2bn less than a year earlier.
The Treasury Minister, David Gauke, says there is still a hard task ahead.