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UK government borrowing increased in June, figures from Office for National Statistics on Thursday.
UK public sector net borrowing, excluding banks, amounted to £22.9 billion in June, up 22% year-on-year from £18.8 billion. The latest figure was the second-highest June borrowing amount on record, the ONS noted.
In June 2020, the figure was £32.2 billion.
For the year to June, borrowing hit £55.4 billion, down 9.3% from £61.1 billion a year earlier, but more than doubled from the year to June 2019, so before the Covid-19 pandemic.
Public sector net debt excluding public sector banks and the Bank of England was £2.068 trillion, which is 83% of UK gross domestic product. The borrowing figure is up £92.0 billion from a year earlier, though the percentage of GDP was down from 85% in June 2021.
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