Figures show slowdown starting to hit public finances,but public borrowing fell in May in boost for Philip HammondThe government’s spending deficit is on course to worsen this year as official figures show the economic slowdown is beginning to purchase a toll on the UK’s public finances.
As ministers struggle with demands for higher spending on health, police and social care, and the Office for National Statistics (ONS) said public borrowing was narrowly lower in May than the same month last year. Public sector net borrowing excluding the nationalised banks was £6.7bn,down from £7.1bn a year earlier and slightly below the consensus expectation of £6.8bn. Related: UK deficit falls in boost for Philip Hammond - commerce live Continue reading...
Source: theguardian.com