Inflation pushes UK government interest costs in June to fresh recordon July 21, 2022 at 6:41 am

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Interest payments made on government debt hit the highest level on record in June as inflation surged.

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Surging inflation led interest payments on government debt to hit the highest amount on record in June.

Interest payments paid by the government for last month hit £19.4bn.

It pushed government borrowing for the month up from a year earlier to the second highest June level on record.

Borrowing – the difference between spending and tax income – was £22.9bn during the month, up £4.1bn from a year earlier, the Office for National Statistics said.

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