UK borrowing falls by more than forecast in early relief for new Chancellor

The lower-than-forecast borrowing figure may offer some respite to John Healey (Yui Mok/PA) - (PA Wire)

UK Government borrowing fell by a third last month, a bigger decline than forecasters were expecting and delivering some early relief to John Healey on his first day as Chancellor, official figures show.

The Office for National Statistics (ONS) said public sector net borrowing was £16 billion in June, which was 33.1% less than the same month last year.