UK borrows less than expected as Healey vows to ‘buffer against uncertainty’
Figure of £16bn from ONS comes after Andy Burnham revealed plans to cut VAT on electricity bills
AI Summary
The UK borrowed £16bn in June, less than expected, providing a boost for Prime Minister Andy Burnham. The lower borrowing was partly due to reduced inflation-linked debt interest costs. Burnham has also announced plans to cut VAT on household electricity bills, funded by cancelling the digital ID programme.