4 months ago
17
ARTICLE AD BOX
Government borrowing was higher than expected in June, according to the latest official figures.
Borrowing – the difference between public sector spending and income from taxes – was £14.5bn, down £3.2bn from the year before and the lowest figure for June since 2019.
However, the figure was about £3bn more than economists had forecast.
The total amount of government debt remains at levels last seen in the early 1960s, the Office for National Statistics (ONS) said.
Total debt - which is the overall amount of money owed by the government that has built up over years - was the equivalent of 99.5% of the size of the UK's economy as measured by gross domestic product (GDP).
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