The Office for National Statistics reported that public sector net borrowing in July climbed to 3.1bn, exceeding forecasts and marking the highest level since 2021.
Rachel Reeves, amidst preparing her first budget, faces the challenge of addressing public sector borrowing that grew by 1.8bn from last year, placing fiscal pressures on her plan.
Darren Jones highlighted the previous Conservative government's impact on the current economic situation, revealing a 22bn black hole that poses significant challenges for public finance management.
Despite a slight decrease in borrowing year-to-date, the figures show the fourth highest borrowing level recorded for the period since records began in 1993.
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