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The Independent UK
The Independent UK
Business
Holly Williams

Rachel Reeves under pressure as UK borrowing higher than forecast in June thanks to soaring debt interest costs

Chancellor Rachel Reeves is facing further pressure over the UK’s public finances after official figures showed higher-than-expected government borrowing last month due to soaring debt interest payments.

The Office for National Statistics (ONS) said June borrowing rose to £20.7 billion last month – £6.6bn higher than a year earlier and the second highest June borrowing since records began, only behind that seen in 2020 at the height of the pandemic.

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