UK borrows more than expected in July at 4.9 billion pounds

The Office for National Statistics said on Friday that public sector borrowing excluding state-owned banks stood at 4.944 billion pounds ($5.89 billion). A poll of economists had pointed to borrowing of 2.8 billion pounds for the shortfall in July...

Agencies
Britain's budget deficit was bigger than expected in July, official data showed, underscoring the challenges facing the country's next prime minister to provide more support to consumers hit by sky-rocketing energy costs.

The Office for National Statistics said on Friday that public sector borrowing excluding state-owned banks stood at 4.944 billion pounds ($5.89 billion).

A poll of economists had pointed to borrowing of 2.8 billion pounds for the shortfall in July which is typically a month when income tax receipts flow into the public coffers.

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