Despite record income tax receipts, UK government borrowing in July rose
year‑on‑year as spending increases outpaced higher receipts, the ONS said. The
government budget deficit for July was £1.8 billion, up £0.7 billion from July
2025. Fiscal‑year‑to‑date borrowing stands at £56.7 billion, down £6.0 billion
year‑on‑year but £2.3 billion above the Office for Budget Responsibility’s
forecast.
