UK Government Borrowing Falls in June, Public Finances Remain Challenging
UK government borrowing fell more than forecast in June, offering some relief for the new Chancellor, but public finances continue to face significant challenges. The reduction in borrowing was accompanied by Andy Burnham's announcement of VAT cuts on electricity bills.
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How much money does the UK government borrow, and why does it matter?
The UK government borrows to fund day-to-day spending as well as long-term infrastructure projects.
Read full article →Burnham cuts VAT on household electricity bills; UK borrows less than expected in June – business live
Rolling coverage of the latest economic and financial news The removal of VAT from electricity bills is positive but it does not address the scale of the problem that British households are facing, campaigners at the End Fuel Poverty Coalition have said. Simon Francis, coordinator of the group, said: Removing VAT from electricity bills is a positive statement of intent by the new administration. But it does not address the scale of what households are facing, with millions still left paying a...
By Lauren Almeida
Read full article →UK borrowing falls by more than forecast in early relief for new Chancellor
The Office for National Statistics (ONS) said public sector net borrowing was £16 billion in June, which was 33.1% less than the same month last year.
By Anna Wise
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