UK Borrows Less Than Expected in June in Boost for Burnham The latest figures from the Office for National Statistics show that public sector net borrowing came in at £16bn, a £7. 9bn undershoot of expectations.
Prime Minister Andy Burnham has seized on this unexpected reprieve as evidence that his plans to cut VAT on household electricity bills and boost the economy are bearing fruit.
However, closer examination reveals that lower debt interest costs, influenced by reduced inflation, have contributed significantly to the lower borrowing figure.