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The Guardian - UK
The Guardian - UK
Business
Richard Partington Economics correspondent

Labour says higher-than-forecast UK borrowing shows economic challenge ahead

Darren Jones, the chief secretary to the Treasury, leaves Downing Street carrying a red file under his arm
Darren Jones, the chief secretary to the Treasury. Photograph: Anadolu/Getty

Labour has said it has received the worst economic inheritance since the second world war after official figures showed the government borrowed more than expected in June.

Underscoring the challenges facing the chancellor, Rachel Reeves, the Office for National Statistics reported that UK borrowing – the difference between public sector spending and income – was £14.5bn last month.

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