July data shows total public debt was £2.98tn, or 94% of GDP – up £96bn on a year earlier
The UK government ran a larger than expected £1.8bn deficit in July, underlining the challenges facing the chancellor, John Healey, as he draws up his first budget.
City economists had expected a shortfall of zero for July, a month when Treasury receipts tend to be swollen by self-assessment income tax payments.
Continue reading…
Source link : https://www.theguardian.com/politics/2026/aug/21/uk-unexpected-deficit-john-healey-prepares-for-first-budget
Author : Heather Stewart
Publish date : 2026-08-21 06:34:00
Copyright for syndicated content belongs to the linked Source.