Government borrows less than expected in June

The authorities borrowed little than expected successful June, helped by higher taxation receipts and a large driblet successful indebtedness involvement payments.

Borrowing - the quality betwixt spending and taxation income - fell to £18.5bn, according to the Office for National Statistics (ONS).

It is £400m little than past June and beneath predictions by the government's autarkic forecaster.

But the ONS said borrowing is inactive the 3rd highest for June connected record.

The Office for Budget Responsibility had expected nationalist borrowing to scope £21.1bn. Meanwhile, the ONS said that borrowing for April and May had been revised down by £7bn.

Ruth Gregory, lawman main UK economist astatine Capital Economics, said that Chancellor Jeremy Hunt "now looks apt to person a small much wiggle country successful the Autumn Statement to money a fewer pre-election giveaways".

But she added: "With the afloat upward interaction connected borrowing from higher involvement rates and weaker GDP maturation inactive coming down the line, we proceed to deliberation immoderate bundle of pre-election nett taxation cuts volition astir apt request to beryllium humble oregon swiftly reversed."

Mr Hunt said it was important to "avoid reckless spending".

"Now much than ever we request to support subject with the nationalist finances," helium said.