US EditionUK government borrowing lower than expected in July
Higher tax and national insurance receipts reduced the UK government's borrowing to £1.1 billion in July, less than half the forecast by economists, marking a three-year low.
- The UK government borrowed £1.1 billion in July, the lowest amount in three years, according to the Office for National Statistics .
- This borrowing is less than half the expected £2.6 billion, indicating a positive trend.
- Darren Jones stated that excessive taxpayer money is spent on interest payments for the national debt.
- Borrowing for the first four months of the financial year reached £60 billion, which is £6.7 billion higher than the same period last year, as reported by the ONS.
17 Articles
17 Articles
UK borrowing in line with forecasts but challenges await Reeves
Britain's borrowing in the current financial year so far has matched the official forecasts that underpin the tax and spending plans of finance minister Rachel Reeves, according to official data published on Thursday.
Spectator UK
Politics, Policy, Political NewsBritain is being pulled under by debt
This borrowing has become ruinously expensive and helps explain why we’re paying Greek levels of debt interest on Canadian levels of debt.
Government borrowing less than expected in July in boost for Reeves
The Office for National Statistics said the borrowing of £1.1 billion is the lowest July figure for three years. Government borrowing in the UK slowed to a lower-than-expected £1.1 billion in July, providing some relief for Chancellor Rachel Reeves in the run-up to the autumn budget. The Office for National Statistics said the figure, which was £2.3 billion less than the same month a year earlier, is the lowest July borrowing figure for three ye…
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