Public borrowing at £11.4bn in June

The BBC reports that the government borrowed more than expected in June, and has failed to reduce public sector borrowing since the start of the fiscal year.

Public sector net borrowing stood at £11.4bn last month, the Office for National Statistics (ONS).

The figure was above economists’ forecasts of £10.65bn.

For the financial year to date, the public deficit stands at £36.1bn, up 7.3% from a year earlier.

If the current deficit trend continues, this will put public sector borrowing at about £113bn in this year, missing the government target of £95.5bn, said Howard Archer, chief UK economist for IHS Global Insight