The UK public finances improved in July from a particularly weak reading in June, but the government still borrowed more than its fiscal watchdog had expected over the month.
Public sector net borrowing came to £4.9bn last month, an improvement of £800mn compared with July 2021 and far better than the £20.9bn deficit in June.
But the decline between June and July was expected because the government did not have big debt interest bills to pay last month, and the level of borrowing was still £200mn higher than forecast by the Office for Budget Responsibility.
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