UK reports unexpected £1.8 billion budget deficit in July
- Last updated: August 21, 2026 | 14:14
A shopper holds an umbrella while walking along Oxford Street in London.
File/ Reuters
Britain posted an unexpected budget deficit in July, with spending exceeding revenue by £1.8 billion, up £700 million on the deficit a year earlier, Bloomberg reported, citing the Office for National Statistics (ONS) on Friday.
Economists and the Office for Budget Responsibility were expecting the budget to be in balance, with July typically getting a boost from scheduled payments of self-assessed income tax.
The ONS said that borrowing in the first four months of the fiscal year was £56.7 billion — £2.3 billion higher than the fiscal watchdog had expected.
WAM