UK government borrowing soars to second-highest level on record

April-June borrowing was £57.8bn

UK borrowing stood at £20.7bn in June, according to data from the Office for National Statistics today (22 July), the second-highest June figure since monthly records began in 1993.

The figure, which represents the difference between total public sector spending and income, was £6.6bn more than in June last year. UK public finances in a 'vulnerable position' as deficit third largest among top European economies Overall borrowing hit £57.8bn at the end of June, with a £7.5bn increase on the April -June figures last year. The current budget deficit hit £16.3bn last month, which was £7.1bn higher than in June 2024 and the third-highest June current deficit since 1997, after 2020 and 2022. This came after Office for Budget Responsibility's Fiscal risks and sust...