UK Reports Unexpected £1.8 Billion Budget Deficit in July
The United Kingdom recorded an unexpected budget deficit of £1.8 billion in July, contrary to forecasts for a surplus. This deficit was attributed to an increase in government spending.
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UK posts surprise budget deficit of £1.8bn in July
Borrowing figures underline challenge facing chancellor John Healey ahead of his first Budget
Read full article →UK reports unexpected deficit of £1.8bn as John Healey prepares for first budget
July data shows total public debt was £2.98tn, or 94% of GDP – up £96bn on a year earlier The UK government ran a larger than expected £1.8bn deficit in July, underlining the challenges facing the chancellor, John Healey, as he draws up his first budget. City economists had expected a shortfall of zero for July, a month when Treasury receipts tend to be swollen by self-assessment income tax payments. Continue reading...
By Heather Stewart
Read full article →New Chancellor given pre-Budget challenge as borrowing jumps unexpectedly
The ONS said government borrowing stood at £1.8 billion in July, £700 million more than a year ago.
By Holly Williams
Read full article →UK posts unexpected budget deficit in July as spending rises
By Reuters
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