UK borrowing hits £23.3bn in May; debt interest £11.7bn, ONS says
2026-06-22 06:02:57
The UK borrowed £23.3bn in May, up almost a third on the same month last year, according to official figures, BBC reported. The Office for National Statistics said borrowing was £5.6bn higher than the Office for Budget Responsibility’s March forecast, and interest payable on government debt rose to £11.7bn, the highest ever recorded in any May. ONS statistician Tom Davies said spending on debt interest, public services, investment and benefits increased compared with last May, outweighing higher tax receipts. Separately, official figures showed retail spending rose 1.2% in May, with household goods retailers up 3.2%.
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