The UK borrowed more than expected in July, according to figures referenced in the supplied report, as Chancellor John Healey prepares for the government’s first Budget.
The higher-than-expected borrowing comes ahead of the Budget, which will set out the government’s plans for managing the public finances. The supplied material does not provide the borrowing total, the level by which expectations were exceeded or the reasons for the difference.
Healey said the government was “committed to meeting our fiscal rules”. The statement indicates that the government intends to continue operating within the financial limits it has set for itself as it prepares its Budget plans.
No further details about the timing of the Budget, the government’s proposed measures or the effect of the July figures are provided in the supplied material. The latest known position is that borrowing was above expectations in July and that the government is preparing to set out its fiscal approach.
