Public borrowing in the UK in July was lower than expected, but the total government borrowing for the new fiscal year is still higher than the same period last year.

Data released by the UK's National Statistics Office on July 21st showed that in July, the UK government's public borrowing amounted to 11 billion, a decrease of 23 billion compared to the same period last year, making it the lowest government borrowing amount in the same period in the past three years. The reason for the lower government borrowing in July compared to the same period last year is mainly due to the government's higher income tax revenue. The data showed that in July, the UK government's income tax revenue was 155 billion, higher than the 27 billion in the same period last year.