Britain's June borrowing falls, government under fiscal pressure
UK government borrowing in June fell to 16 billion pounds, a third lower than a year earlier and below economists’ expectations, as stronger tax receipts and lower debt payments helped ease the fiscal burden. The figures come as new prime minister Andy Burnham outlines measures to curb living costs, including a planned electricity bill tax cut funded by scrapping a digital ID scheme, while naming John Healey as finance minister after a resignation in protest. Unemployment remained steady in the March–May period, even as debt levels stay high at nearly 3 trillion pounds. For the year to date, borrowing totalled about 57.6 billion pounds, down versus last year but still above official projections, with interest payments also dropping and contributing to the reduced monthly shortfall. While the improved borrowing figures offer some relief, officials and markets remain focused on the ongoing scale of public debt and the path to returning the budget to balance under the new administration.
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