UK borrowed less than expected in July in lift for Rachel Reeves

Public sector net borrowing falls to £1.1bn as chancellor explores tax-raising options in autumn budget

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The UK government borrowed less than expected in July, official figures show, in a boost to the chancellor, Rachel Reeves, as she faces pressure in the run-up to her autumn budget.

Figures from the Office for National Statistics (ONS) showed public sector net borrowing – the difference between public spending and income – fell to £1.1bn, down by £2.3bn from the same month a year earlier.