Article 5KC2M UK government borrowing eases as recovery helps tax take

UK government borrowing eases as recovery helps tax take

by
Phillip Inman
from Economics | The Guardian on (#5KC2M)

Reopening of economy in May causes rush to shops and increases VAT and fuel duty receipts

The government borrowed less than expected in May when the reopening of the economy prompted a rush to the shops and pushed VAT and fuel duty receipts higher.

Official figures showed borrowing in May was 24.3bn, undershooting the 28.5bn estimate by the Office for Budget Responsibility (OBR) by 4.2bn.

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