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Borrowing higher than forecast by economists
Western Mail
|July 23, 2025
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.
The Office for National Statistics (ONS) said June borrowing rose to £20.7bn last month - £6.6bn 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 Covid pandemic.
The ONS said interest payable on debt jumped to £16.4bn due to a large rise in Retail Prices Index (RPI) inflation impacting index-linked government bonds.
June borrowing was higher than the £17.6bn expected by most economists and the £17.1bn forecast by Britain’s independent economic forecaster, the Office for Budget Responsibility (OBR).
Borrowing for the first three months of the financial year to date stood at £57.8bn, £7.5bn more than the same three-month period in 2024,
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