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Rise in UK borrowing narrows budget options for new govt
Rise in UK borrowing narrows budget options for new govt

UK government borrowing jumped by far more than expected in July, official figures showed Wednesday, stoking fresh anxiety for the new Labour government ahead of its first budget in just over two months. Public sector net borrowing reached £3.1 billion ($4 billion) last month, the highest July figure since 2021 and well above expectations, the Office for National Statistics (ONS) said.