It is not a piece of data that usually excites the market, but yesterday's publication of the latest figures for the Government’s borrowing requirement provided Chancellor, Jeremy Hunt with an opportunity to make good on his promise that he will be able to cut taxes in his Spring Budget, that is due for delivery in early March.The data showed that the Government needed to borrow just £6.86 billion in December, down from a slightly revised figure of £12.78 billion in November and well below the market’s expectations.This means that the interest payable on the Government’s borrowing requirement will also have fallen, providing the Chancellor with yet more “wiggle room”.The interest payments on the entire UK Government debt have fallen from £14 billion to £4 billion in a little more than a year since the interest payments are linked to the Retail Price Index measure of inflation, which has more than halved over the same period.The Office for National Statistics reported that in the nine months to December, the Government borrowed a total of £119.1 billion, which was more than £11 billion more than over the same period a year ago, but significantly less than the amount forecast by the Office for Budget Responsibility.Beyond Currency Market Commentary:Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.