UK’s July deficit shocks economists at £1.8 billion, defying tax income expectations and adding pressure on Chancellor John Healey as he prepares his first budget. With a £56.7 billion deficit in the first four months — still higher than forecast — and public debt nearing £3 trillion, the government faces a tightrope walk: balancing fiscal discipline, inflation, slower growth, and cost-of-living pressures while investing in infrastructure and youth employment. Healey insists the UK is cutting its deficit faster than any other G7 nation, even amid global uncertainty.
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