The British government borrowed less than expected last month, but the figure remained the fifth highest July number since records began in 1993, according to the Office for National Statistics.
The ONS said public sector net borrowing stood at £4.3 billion in July, £3.4 billion more than a year ago.
Economists had predicted borrowing of £4.9 billion.
Also, the ONS said the budget deficit between April and July was £56.6 billion ($72.3 billion), £11.3 billion less than the Office for Budget Responsibility forecast in March.
The UK's net debt was £2.58 trillion at the end of July, which equates to 98.5 per cent of the country's gross domestic product. It was also 1.9 per cent higher than at the end of July last year, the ONS said.
Upward revisions to gross domestic product figures in the last few months meant that the government's debt did not exceed 100 per cent of GDP in July.
Higher tax receipts
The government brought in more money than expected in July – at £85.2 billion, it was £3.4 billion more than in July 2022 and £2.3 billion more than the £82.9 billion forecast by the Office for Budget Responsibility.
The £85.2 billion figure consisted of £65.6 billion worth of tax receipts, which was £3.9 billion more than in July 2022.
The ONS said that income taxes receipts rose £3.5 billion, the corporation tax take was up £0.7 billion, and £0.6 billion more VAT was gathered in July.
The government's coffers are benefiting from the UK's tight labour market, which is boosting taxes from rising wages, and the end of subsidies for household energy bills. Even though the tax receipts beat the OBR forecasts, experts said that shouldn't be read as a prelude to tax cuts.
“The tight labour market and strong wages growth it is fuelling is one of the main driving forces behind the better tax receipts, helping to offset the higher debt costs attributable to rising interest rates and high inflation,” said Stuart Cole, chief macro economist at Equiti Capital.
“However, how much room the government will ultimately have to cut taxes next year remains uncertain and is likely to be very limited.”
The specs
Engine: 6.2-litre V8
Power: 502hp at 7,600rpm
Torque: 637Nm at 5,150rpm
Transmission: 8-speed dual-clutch auto
Price: from Dh317,671
On sale: now
The specs
Engine: 3.0-litre 6-cyl turbo
Power: 374hp at 5,500-6,500rpm
Torque: 500Nm from 1,900-5,000rpm
Transmission: 8-speed auto
Fuel consumption: 8.5L/100km
Price: from Dh285,000
On sale: from January 2022
The five pillars of Islam
MATCH INFO
Fixture: Thailand v UAE, Tuesday, 4pm (UAE)
TV: Abu Dhabi Sports
Farage on Muslim Brotherhood
Nigel Farage told Reform's annual conference that the party will proscribe the Muslim Brotherhood if he becomes Prime Minister.
"We will stop dangerous organisations with links to terrorism operating in our country," he said. "Quite why we've been so gutless about this – both Labour and Conservative – I don't know.
“All across the Middle East, countries have banned and proscribed the Muslim Brotherhood as a dangerous organisation. We will do the very same.”
It is 10 years since a ground-breaking report into the Muslim Brotherhood by Sir John Jenkins.
Among the former diplomat's findings was an assessment that “the use of extreme violence in the pursuit of the perfect Islamic society” has “never been institutionally disowned” by the movement.
The prime minister at the time, David Cameron, who commissioned the report, said membership or association with the Muslim Brotherhood was a "possible indicator of extremism" but it would not be banned.
New schools in Dubai
The biog
Hobby: "It is not really a hobby but I am very curious person. I love reading and spend hours on research."
Favourite author: Malcom Gladwell
Favourite travel destination: "Antigua in the Caribbean because I have emotional attachment to it. It is where I got married."
More on Coronavirus in France
Courses%20at%20Istituto%20Marangoni%2C%20Dubai
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Selected fixtures
All times UAE
Wednesday
Poland v Portugal 10.45pm
Russia v Sweden 10.45pm
Friday
Belgium v Switzerland 10.45pm
Croatia v England 10.45pm
Saturday
Netherlands v Germany 10.45pm
Rep of Ireland v Denmark 10.45pm
Sunday
Poland v Italy 10.45pm
Monday
Spain v England 10.45pm
Tuesday
France v Germany 10.45pm
Rep of Ireland v Wales 10.45pm
KILLING OF QASSEM SULEIMANI
The specs: 2018 Nissan Patrol Nismo
Price: base / as tested: Dh382,000
Engine: 5.6-litre V8
Gearbox: Seven-speed automatic
Power: 428hp @ 5,800rpm
Torque: 560Nm @ 3,600rpm
Fuel economy, combined: 12.7L / 100km
Killing of Qassem Suleimani
Company%20Profile
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COMPANY%20PROFILE
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UAE currency: the story behind the money in your pockets
Name: Colm McLoughlin
Country: Galway, Ireland
Job: Executive vice chairman and chief executive of Dubai Duty Free
Favourite golf course: Dubai Creek Golf and Yacht Club
Favourite part of Dubai: Palm Jumeirah
SCORES IN BRIEF
Lahore Qalandars 186 for 4 in 19.4 overs
(Sohail 100,Phil Salt 37 not out, Bilal Irshad 30, Josh Poysden 2-26)
bt Yorkshire Vikings 184 for 5 in 20 overs
(Jonathan Tattersall 36, Harry Brook 37, Gary Ballance 33, Adam Lyth 32, Shaheen Afridi 2-36).
Zayed Sustainability Prize
The years Ramadan fell in May
Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
THURSDAY'S ORDER OF PLAY
Centre Court
Starting at 10am:
Lucrezia Stefanini v Elena Rybakina (6)
Aryna Sabalenka (4) v Polona Hercog
Sofia Kenin (1) v Zhaoxuan Yan
Kristina Mladenovic v Garbine Muguruza (5)
Sorana Cirstea v Karolina Pliskova (3)
Jessica Pegula v Elina Svitolina (2)
Court 1
Starting at 10am:
Sara Sorribes Tormo v Nadia Podoroska
Marketa Vondrousova v Su-Wei Hsieh
Elise Mertens (7) v Alize Cornet
Tamara Zidansek v Jennifer Brady (11)
Heather Watson v Jodie Burrage
Vera Zvonareva v Amandine Hesse
Court 2
Starting at 10am:
Arantxa Rus v Xiyu Wang
Maria Kostyuk v Lucie Hradecka
Karolina Muchova v Danka Kovinic
Cori Gauff v Ulrikke Eikeri
Mona Barthel v Anastasia Gasanova
Court 3
Starting at 10am:
Kateryna Bondarenko v Yafan Wang
Aliaksandra Sasnovich v Anna Bondar
Bianca Turati v Yaroslava Shvedova
Killing of Qassem Suleimani
Five expert hiking tips
Always check the weather forecast before setting off
Make sure you have plenty of water
Set off early to avoid sudden weather changes in the afternoon
Wear appropriate clothing and footwear
Take your litter home with you
MATCH INFO
Newcastle 2-2 Manchester City
Burnley 0-2 Crystal Palace
Chelsea 0-1 West Ham
Liverpool 2-1 Brighton
Tottenham 3-2 Bournemouth
Southampton v Watford (late)
