Rachel Reeves dealt massive new blow as she creates £20.7bn blackhole | Politics | News

According to official figures, as debt interest payments rose to Rachel Reeves by Chancellor Rachel Reeves, the borrowing of the British in the UK rose to £ 20.7 billion last month. The National Statistics Office (Ones) said that June borrowing was 6.6 billion higher than the previous year and that it was the second highest June borrowing since the registrations, but it was seen at the summit of Pandemin in 2020.

Ones said that the interest rate of the debt rose to £ 16.4 billion affecting the index -related government bonds due to a major increase in retail price index inflation. The June borrowing was higher than £ 17.6 billion expected by most economists. In the first three months of the financial year, borrowing remained £ 57.8 billion and £ 7.5 billion from the same three -month period in 2024.

Treasury Chief Secretary Darren Jones said: uz We are committed to difficult financial rules, so we do not borrow for daily expenditures and we do not borrow as a share of our economy.

“The commitment to economic stability means that we can continue to invest in the renewal of the UK, including correcting our NHS, strengthen our national defense and build hundreds of thousands of affordable houses through our change of change.”

Shadow Chancellor Mel Stide, who responded to a higher increase in government borrowing than expected, said: “Rachel Reeves spends the money it does. The debt interest is estimated to increase the cost of the taxpayers almost twice as much as £ 100 billion-per year and the Workers’ party will rise to £ 130 billion.

“The tax and reckless borrowing of the Labor Party and reckless borrowing is to kill growth and to pave more tax hikes and more borrowing in the spring.

“Under new leadership, only conservatives will disrupt this cycle. Only conservatives believe in solid money and low taxes.”