Borrowing higher than UK forecast

Chancellor Rachel Reeves is facing further pressure over the UK’s public finances after official figures showed higher-than-expected government borrowing last month due to soaring debt interest payments.

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The Office for National Statistics (ONS) said June borrowing rose to £20.7 billion last month - £6.6 billion higher than a year earlier and the second highest June borrowing since records began, only behind that seen in 2020 at the height of the pandemic.