#public-borrowing

#public-borrowing

UK public sector borrowing dropped to £1.1bn in July, the lowest July borrowing for three years, as stronger tax revenues slowed the increase in public borrowing. The uplift in receipts was largely driven by a better-than-expected economic performance in the first half of the year. Despite this improvement, borrowing for the financial year to date remains £6.7bn higher than the same period last year.

In April, public sector net borrowing reached £20.2bn, exceeding forecasts and highlighting fiscal pressure amid rising costs in public services and benefits.