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Politics
Economics

UK Debt Cost Surge Sends Warning to Next Prime Minister

  • Borrowing running £3.7 billion above OBR forecast since April
  • Debt interest costs hit almost £20 billion in usual June surge
Updated on

The UK government is borrowing billions of pounds more than forecast as soaring inflation drives up the cost of servicing the national debt.

Official figures published Thursday showed the budget deficit totaled £22.9 billion ($27.5 billion) in June, up more than 20% compared with the same month last year.