Britain’s Chancellor of the Exchequer Rishi Sunak arrives for a cabinet meeting, the first since mid-March because of the coronavirus disease pandemic, at Downing Street in London, Britain, July 21, 2020. — Reuters pic
Borrowing in June, excluding state-owned banks, was £35.5 billion, the government statistics office said. That was five times more than a year earlier though below economists’ average forecast of £41.5 billion in a Reuters poll, following a big downward revision for May. Last week finance minister Rishi Sunak set out up to £30 billion of new measures, partly to encourage businesses to take workers back when he ends a furlough scheme supporting more than nine million jobs in October.
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