UK borrowing falls as debt interest payments jump to £8.7bn
by Richard Partington Economics correspondent from Economics | The Guardian on (#5ME39)
As economy reopened, government's budget deficit reached 22.8bn in June, says ONS
UK government borrowing fell in June as the reopening of the economy from lockdown fuelled a rise in tax receipts despite a record jump in debt interest payments to 8.7bn amid rising inflation.
The Office for National Statistics (ONS) said the government's budget deficit - the shortfall between spending and income - reached 22.8bn in June, a fall of 5.5bn from the same month a year earlier.
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