Rachel Reeves: Boost for Chancellor as Government borrowing slows to lower-than-expected £1.1 billion in July

Yorkshire Post

Government borrowing in the UK slowed to a lower-than-expected £1.1 billion in July, providing some relief for Chancellor Rachel Reeves in the run-up to the autumn budget.

Transcript

00:00Hello, I'm Greg Wright of the Yorkshire Post.

00:04Government borrowing in the UK slowed to a lower than expected £1.1 billion in July,

00:11providing some relief for Chancellor Rachel Reeves in the run-up to the autumn budget.

00:16The ONS said the figure, which was £2.3 billion less than the same month a year earlier,

00:21is the lowest July borrowing figure for three years.

00:24It came after a rise in self-assessed income tax and national insurance payments helped increase tax receipts for the month.

00:33July borrowing was lower than the £2 billion figure predicted by consensus of economists.

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