Borrowing remains high compared to pre-long-term pandemic levels
Government borrowing fell in July as the continued reopening of the economy improved tax revenue, according to the National Bureau of Statistics.
The fiscal deficit rose by £1.04 billion in July, up about half of the £20.5 billion seen in the same month in 2020.
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Borrowing remains high at 10.8% of national income when compared to the long-term average of 2.5% before the crisis.
As the pandemic recovered, tax revenues rose £9.5 billion in July to £700 billion.
Taxes received from self-employed workers were particularly high last month as a result of the government’s tax deferral plan.
The borrowing will be £78 billion between April and July, and will be under the office of about 25% for forecasting budget liability. The economist said the total annual borrowing would be £175.3 billion, up from £2980 billion last year.
Prime Minister Rishi Snack said: However, the last 18 months have had a major impact on our economy and finances, and many risks remain. We are committed to maintaining our finances on a sustainable scaffold. ”
“The numbers are moving in the right way. If you look at the money coming in from the beginning of the fiscal year, almost every box is in black. AJ Bell Financial analyst Danni Hewson said: Masu.
“The economic engine is turning, but it is sacrificed by ticking through lockdowns and restrictions, and the road ahead is rarely without a hep hole. Any prime minister walks tightrope for years to come You must be proficient in. If you are too lean, too little, there is a real risk that some of the most shocked economies will struggle. If you tilt in other ways, the country will be next “It may not return to shape quickly enough to deal with the big shock of the company.”
