UK government borrowed £23.3 billion in May amid Iran war
Business
The UK government borrowed £23.3 billion last month, much more than the £18.5 billion experts expected, making it the second-highest May on record.
The main reason? Extra spending triggered by the Iran war, including higher debt interest and more support for public services and benefits.
Borrowing £46.3 billion pressures Rachel Reeves
Total borrowing for this financial year has already hit £46.3 billion, outpacing both last year's numbers and official forecasts.
These rising costs are putting extra pressure on Chancellor Rachel Reeves and come right after Andy Burnham's by-election win, which could shake up Labour leadership dynamics even further.