UK borrowing falls by more than forecast in early relief for new Chancellor
- Posted on July 21, 2026
- By Evening Standard
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- 1 min read
In brief
Recent fiscal data reveals encouraging news for the UK's incoming Chancellor, as public sector borrowing experienced a significant contraction in June. The Office for National Statistics reported borrowing reached £16 billion, marking a substantial year-on-year decrease of over one-third. This positive development suggests improved government finances and provides a more favorable starting position for implementing new economic policies. The reduction reflects changing economic conditions and budget management since the previous fiscal period.
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UK borrowing falls by more than forecast in early relief for new Chancellor
The Office for National Statistics (ONS) said public sector net borrowing was £16 billion in June, which was 33.1% less than the same month last year.
