New figures from the Office for National Statistics show borrowing was £20.7 billion in June – £6.6 billion more than last year, the second-highest since records began in 1993. Coming in behind June 2020’s figure…
The OBR forecast the figure would be £17.1 billion. Acting ONS chief economist Richard Heys said: “The rising costs of providing public services and a large rise this month in the interest payable on index-linked gilts pushed up overall spending more than the increases in income from taxes and National Insurance contributions, causing borrowing to rise in June.” Bad news for Reeves…
Sarah Pochin at Reform Scotland’s manifesto launch event: “I really wanted to come on in a Reform tartan burka, but apparently I wasn’t allowed… One day let’s do one of these events not live-streamed. We’ll do all the naughty stuff…”