European markets opened in the green on Wednesday morning in London, as Office for National Statistics (ONS) figures showed that public-sector net borrowing was estimated to have been £22.8bn ($31bn) in June.
This was slightly below forecasts and marked the second-highest June borrowing since monthly records began in 1993, £5.5bn less than in June 2020.
Public-sector borrowing for the financial year to June 2021 was estimated to have been £69.5bn; this was the second-highest financial year-to-June borrowing since monthly records began in 1993, £49.8bn less than in the same period last year.
The ONS said that the pandemic has meant that estimated tax receipts are subject to more uncertainty than normal and therefore its impact on the public purse is not fully captured in the latest release.
“I’m proud of the unprecedented package of support we put in place to protect jobs and help thousands of businesses survive the pandemic, and that we are continuing to support…