UK borrows more than expected in July as Healey prepares for first Budget

The government borrowed slightly more than expected in July, according to figures published as Chancellor John Healey draws up his first Budget. The Office for National Statistics (ONS) said borrowing was £2. 3bn more than official forecasts from the Office for Budget Responsibility (OBR). Borrowing, the gap between what the government spends and what it takes in tax receipts, was £1.

Chancellor John Healey said the government is 'committed to meeting our fiscal rules'.

Summarised by Agaah from BBC Business. Agaah aggregates 36 sources and removes duplicate coverage — all news, one place.