UK reports unexpected deficit of £1.8bn as John Healey prepares for first budget

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.

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.

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