Borrowing continues to fall faster than expected

(Office for budget responsibility)

 

Government borrowing in July 2021 was £10.4 billion, down £10.1 billion from the same month last year.

Year-to-date borrowing of £78.0 billion is now £26.1 billion below our March forecast profile.

That reflects both stronger-than-expected receipts (thanks largely to a faster-than-expected economic recovery) and lower-than-expected spending (due to the faster-than-expected unwinding of covid-related government support).

Read the full commentary here

 

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