Government borrowing climbs to lower-than-expected £4.3bn in July

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K government borrowing was lower than expected last month, but was still more than four times higher than a year ago and remained the fifth highest July borrowing since records began, official figures have shown.

The Office for National Statistics (ONS) said public sector net borrowing, excluding state-owned banks, stood at £4.3 billion in July, £3.4 billion more than a year ago, but substantially lower than in recent months due to higher receipts of self-assessed income tax.

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