Britain’s budget deficit swelled by more than expected last month, after the UK Government borrowed more than £7 billion (€8bn) to help balance the books. The Government posted the highest borrowing figure for June since 2015, according to the Office for National Statistics (ONS). In June, central government spending increased by £4.3 billion (€4.8bn), or 7.2%, to £64.8 billion (€72.2bn). Receipts grew on the back increased income tax and national insurance income, which rose by £300 million (€334.3m) and £500 million (€557.3m) respectively compared to June 2018. “Instead of investing to grow they have passed on the deficit to hospitals and local councils, overseeing stagnating wages and productivity.”- Press Association

Source: Irish Examiner July 19, 2019 10:30 UTC