UK government debt will fall in June

The UK government borrowed less than expected in June as new Prime Minister Andy Burnham began to introduce measures to reduce the cost of living for households.

Borrowing – the difference between spending and tax revenue – was £16bn last month, £7.9bn less than at the same point last year, the Office for National Statistics (ONS) said.

Various figures showed the unemployment rate remained unchanged between March and May, and Statistics England said the labor market was “relatively stable”.

However, while the debt figure is better than expected, the UK still carries a high level of public debt.