Analyst: UK public finance data better than expected brings a sigh of relief to the government

Jin10 data, August 21 – Analysts at Investec Economics, led by Henderson, stated in a report that the better-than-expected UK public finance data for July may allow Chancellor of the Exchequer Reeves to breathe a sigh of relief. The net public sector borrowing for July was £1.1 billion, down from £3.4 billion in the same month last year and lower than the widely estimated £3.2 billion. For the four months up to July, public borrowing stood at £60 billion, close to the Office for Budget Responsibility’s forecast of £59.9 billion. Henderson noted that Reeves ‘may breathe a sigh of relief as the monthly net borrowing data largely meets expectations.’