Political Picture · policy

Filed by Deacon Rift

July data shows total public debt was £2.98tn, or 94% of GDP – up £96bn on a year earlierBusiness live – latest updatesThe UK government ran a larger than expected £1.8bn deficit in July, underlining the challenges facing the chancellor, John Healey, as he draws up his first budget.City economists had expected a shortfall of zero for July, a month when Treasury receipts tend to be swollen by self-assessment income tax payments. Continue reading...