UK government net borrowing falls to three-year low in July - ONS

UK public sector net borrowing fell to around £1 billion in July, the Office for National Statistics reported on Thursday.

Net borrowing, the difference between total public sector spending and income, was £1.05 billion in July, below the FXStreet-cited market consensus estimate of £1.9 billion.

The July figure was ‘£2.3 billion less than in July 2024 and the lowest July borrowing for three years,’ the ONS noted.

It was significantly below June net borrowing of £22.56 billion, which was revised upwards from £20.68 billion.

Borrowing in the financial year from April to July was £60.0 billion, the ONS reported. This was £6.7 billion more than in the same four month in 2024, ‘and the third-highest April to July borrowing since monthly records began, after those of 2020 and 2021’.

Also for the financial year so far, the total current budget deficit was £42.8 billion, up by £5.4 billion from the prior year.

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