Borrowing up by £1.8bn in July compared to last year
The Independent|August 22, 2024
Government borrowing surged by more than expected in July in a blow to Rachel Reeves as she prepares to deliver her first Budget.
ARCHIE MITCHELL
Borrowing up by £1.8bn in July compared to last year

The Office for National Statistics (ONS) said public sector net borrowing stood at £3.1bn last month, £1.8bn more than a year ago and the highest July borrowing since 2021.

The total for July was £3bn more than predicted by Britain’s official forecaster, the Office for Budget Responsibility, and higher than the £1.1bn most economists were pencilling in. Borrowing in the financial year from the end of March to July was £51.4bn, £500m less than in the same four-month period a year earlier, but the fourth highest year-to-July borrowing since monthly records began in January 1993, the ONS said.

The borrowing figures come after the new chancellor last month accused the previous Conservative government of leaving a £21.9bn black hole in the public finances, through unfunded commitments that she said it had “covered up”.

هذه القصة مأخوذة من طبعة August 22, 2024 من The Independent.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة August 22, 2024 من The Independent.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

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