UK reports unexpected deficit of £1.8bn as John Healey prepares for first budget
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Key context: <p>July data shows total public debt was £2.98tn, or 94% of GDP – up £96bn on a year earlier</p><ul><li><p><a href="https://www.theguardian.com/business/live/2026/aug/21/retail-sales-economy-consumer-ons-heatwave-ftse-stock-market-growth-oil-live-updates">Business live – latest updates</a></p></li></ul><p>The UK government ran a larger than expected £1.8bn deficit in July, underlining the challenges facing the chancellor, John Healey, as he draws up his first budget.</p><p>City economists had expected a shortfall of zero for July, a month when Treasury receipts tend to be swollen by self-assessment income tax payments.</p> <a href="https://www.theguardian.com/politics/2026/aug/21/uk-unexpected-deficit-john-healey-prepares-for-first-budget">Continue reading...</a> This development from The Guardian highlights ongoing changes in the sector.
July data shows total public debt was £2.98tn, or 94% of GDP – up £96bn on a year earlierBusiness live – latest updatesThe UK government ran a larger than expected £1.8bn deficit in July, underlining the challenges facing the chancellor, John Healey, as he draws up his first budget.City economists had expected a shortfall of zero for July, a month when Treasury receipts tend to be swollen by self-assessment income tax payments. Continue reading...
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