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		</div><p>Britain’s budget deficit swelled by more than expected last month, after the UK Government borrowed more than £7 billion (€8bn) to help balance the books.</p>
<p>The Government posted the highest borrowing figure for June since 2015, according to the Office for National Statistics (ONS).</p>
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<p>The public sector borrowed £7.2 billion in June – £3.8 billion (€4.2bn) more than June last year – as it spent more money than it received in taxes and other income.</p>
<p>Since the start of the financial year, the Government has borrowed £17.9 billion (€19.9bn), representing a significant rise from £13.4 billion (€14.9bn) over the same period last year.</p>
<p>In June, central government spending increased by £4.3 billion (€4.8bn), or 7.2%, to £64.8 billion (€72.2bn).</p>
<p>Meanwhile, Government receipts increased by £800 million (€891m), or 1.5%, to £58.7 billion (€65.4bn).</p>
<p>Receipts grew on the back increased income tax and national insurance income, which rose by £300 million (€334.3m) and £500 million (€557.3m) respectively compared to June 2018.</p>
<p>Howard Archer, chief economic adviser at EY Item Club, said:<em> “On the basis of April to June, borrowing is headed for £31.4 billion (€35bn) – but it is premature to draw any firm conclusions as monthly public finance data can be prone to significant revisions as well as being influenced by specific factors.</em></p>
<p><em>“Much will depend on whether the economy can shrug off its current weakness as well as on Brexit developments.</em></p>
<p><em>“It will also be influenced by any changes to fiscal policy by the new Prime Minister and Chancellor.”</em></p>
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<p>The figures also revealed that public sector debt grew by £27 billion (€30.1bn) to £1.82 trillion (€2.03tn) at the end of June.</p>
<p>As a proportion of GDP, the debt shrank by 1.5 percentage points to 83.1%.</p>
<p>John McDonnell, Labour’s shadow chancellor, said: <em>“With the Conservatives obsessed with no-deal Brexit and a race to the bottom on taxes, the outlook for our public services after years of austerity is grim.</em></p>
<p><em>“Instead of investing to grow they have passed on the deficit to hospitals and local councils, overseeing stagnating wages and productivity.”</em></p>
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