UK public sector borrowing reached £14.5bn in June, exceeding predictions and raising public sector debt to 99.5% of GDP.
UK public sector borrowing surpassed expectations in June, hitting £14.5bn, according to the Office for National Statistics. This marks a decrease of £3.2bn compared to the same month last year, yet it is still £3.2bn more than the £11.6bn prediction by the Office for Budget Responsibility. With public sector debt reaching 99.5% of GDP, up by 2.8 percentage points compared to the previous year, UK Chancellor Rachel Reeves faces crucial decisions regarding the Autumn Budget.
July 19, 2024
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