UK government borrows more than expected

The UK public finances improved in July from a particularly weak reading in June, but the government still borrowed more than its fiscal watchdog had expected over the month.

Public sector net borrowing came to £4.9bn last month, an improvement of £800mn compared with July 2021 and far better than the £20.9bn deficit in June.

But the decline between June and July was expected because the government did not have big debt interest…