UK borrows more than expected in July

The UK borrowed £56.7bn from April to July, exceeding forecasts by £2.3bn, according to the Office for National Statistics (ONS). This brings the total borrowing to £2.3tn.

Borrowing was up 2.3% compared to last year's £55.4tn, with increased welfare spending accounting for a significant portion of the increase.

The UK borrowed £56.7bn from April to July, exceeding forecasts by £2.3bn, according to the Office for National Statistics (ONS). This brings the total borrowing to £2.3tn.

Borrowing was up 2.3% compared to last year's £55.4tn, with increased welfare spending accounting for a significant portion of the increase.

The UK borrowed £56.7bn from April to July, exceeding forecasts by £2.3bn, according to the Office for National Statistics (ONS). This brings the total borrowing to £2.3tn.

Borrowing was up 2.3% compared to last year's £55.4tn, with increased welfare spending accounting for a significant portion of the increase.

The UK borrowed less than expected in June but public finances remain a challenge due to ongoing economic pressures and rising debt levels.

Shadow Chancellor Mel Stride said: 'We spend more on just the interest of our soaring debt than we do on our defence, police, and prisons combined. We simply cannot afford the price of Labour.'

The ONS also stated that Britain's overall debt pile is approaching £3tn, having grown by £127.2bn a year earlier.

Healey has made it clear he will oversee 'strong fiscal discipline' at the Budget – which will limit how much the government has to spend.

Economists warned the figure will restrict Healey and Prime Minister Andy Burnham's room for manoeuvre as they target measures aimed at easing the cost of living for households, with little room to increase borrowing in the Budget on 27 October.

He said: 'We are cutting the deficit faster than any other G7 economy, while giving people a bit of breathing space with cost of living pressures and focusing support to get young people into work.'

The government's fiscal rules commit it to funding all day-to-day spending through tax receipts by the end of the decade.

Responding to the borrowing figures, Healey said: 'We are cutting the deficit faster than any other G7 economy, while giving people a bit of breathing space with cost of living pressures and focusing support to get young people into work.'

The ONS said borrowing from April to July has reached £56.7bn, which is lower than last year but still higher than forecasts.

Capital Economics' Senior Economist Ashley Webb said the figure continued a 'run of bad news' for the economy and that 'there will be little scope to raise borrowing in the Budget later this year.'

The UK's overall debt pile is approaching £3tn, having grown by £127.2bn a year earlier.

UK borrows less than expected in June but public finances remain a challenge

The UK borrowed £56.7bn from April to July, exceeding forecasts by £2.3bn, according to the Office for National Statistics (ONS). This brings the total borrowing to £2.3tn.

Borrowing was up 2.3% compared to last year's £55.4tn, with increased welfare spending accounting for a significant portion of the increase.

The UK borrowed less than expected in June but public finances remain a challenge due to ongoing economic pressures and rising debt levels.

Shadow Chancellor Mel Stride said: 'We spend more on just the interest of our soaring debt than we do on our defence, police, and prisons combined. We simply cannot afford the price of Labour.'

The ONS also stated that Britain's overall debt pile is approaching £3tn, having grown by £127.2bn a year earlier.

Economists warned the figure will restrict Healey and Prime Minister Andy Burnham's room for manoeuvre as they target measures aimed at easing the cost of living for households, with little room to increase borrowing in the Budget on 27 October.

He said: 'We are cutting the deficit faster than any other G7 economy, while giving people a bit of breathing space with cost of living pressures and focusing support to get young people into work.'

The government's fiscal rules commit it to funding all day-to-day spending through tax receipts by the end of the decade.

Responding to the borrowing figures, Healey said: 'We are cutting the deficit faster than any other G7 economy, while giving people a bit of breathing space with cost of living pressures and focusing support to get young people into work.'

The ONS said borrowing from April to July has reached £56.7bn, which is lower than last year but still higher than forecasts.

Capital Economics' Senior Economist Ashley Webb said the figure continued a 'run of bad news' for the economy and that 'there will be little scope to raise borrowing in the Budget later this year.'

The UK's overall debt pile is approaching £3tn, having grown by £127.2bn a year earlier.