UK government borrowing lower than expected in July

UK authorities borrowing was decrease than anticipated in July, in line with the newest official figures.Borrowing – the distinction between public spending and tax revenue – was £1.1bn in July, down £2.3bn from the identical month final 12 months, the Workplace for Nationwide Statistics (ONS) stated.The ONS stated this was the bottom July determine for 3 years, and mirrored robust will increase in tax and Nationwide Insurance coverage receipts.Borrowing over the primary 4 months of the monetary 12 months has now reached £60bn, the ONS stated, which is up £6.7bn from the identical interval final 12 months.