General · 19 June 2026
UK deficit reaches £23.3 billion in May
Photo by Daniel Höhe on Unsplash
Higher borrowing costs could add pressure to public finances as debt payments climbed sharply. Britain recorded a budget shortfall of £23.3 billion in May, 30% above the figure a year earlier and well above economists' expectations of £18.5 billion, according to data released on Friday. For the first two months of the financial year, public sector net borrowing reached £46.3 billion, up 24% from 2025.
Reported by Reuters · How we write briefs