TTD
The True Defender
UK government borrowing fell in June, with officials saying the UK borrowed less than expected as Andy Burnham began outlining lower living-cost measures.
UK government borrowing fell in June, with the UK borrowing figures coming in slightly better than expected as new Prime Minister Andy Burnham began setting out measures aimed at cutting household living costs.
The Office for National Statistics said borrowing was £16 billion last month. That was £7.9 billion lower than at the same point a year earlier. Borrowing is the gap between what the government spends and what it brings in through taxes.
Alongside the latest UK borrowing figures, separate data showed the unemployment rate was unchanged between March and May. The UK statistics body described the labour market as relatively steady.
The stronger-than-expected borrowing result offered a small bit of relief for the public finances, but the broader picture did not change much. The UK is still carrying significant public debt, which remains a major weight on the government's finances. For households and taxpayers, that means the pressure over spending, borrowing, and living costs is still very much in play.
Join thousands of readers getting the headlines that matter — straight to your inbox.
