UK reports unexpected deficit of £1.8bn as John Healey prepares for first budget

July data shows total public debt was £2.98tn, or 94% of GDP – up £96bn on a year earlier The UK government ran a larger than expected £1.8bn deficit in July, underlining the challenges facing the chancellor, John Healey, as he draws up his first budget. City economists had expected a shortfall of zero for July, a mont

Chancellor John Healey said the government is 'committed to meeting our fiscal rules'

Latest borrowing data underscores challenge facing chancellor John Healey ahead of his first Budget

John Healey oversaw an unexpected deficit in public sector finances over his first month as Chancellor, according to new data. New figures released on Friday showed that government borrowing was at £1.8bn in July. Markets had expected the Office for National Statistics to show that there was no difference between expen