Burnham to chair growth meeting call at No 10 North – UK politics live
Summary
The UK government had a bigger than expected budget gap of £1.8 billion in July because spending grew faster than tax money coming in. Prime Minister Andy Burnham will lead a meeting called the "growth situation room" with top officials to address economic growth and budget challenges before the new budget is announced in October.Key Facts
- The UK government had a £1.8 billion deficit in July 2024, higher than expected.
- Economists predicted no deficit for July, a month when tax payments usually increase.
- Self-assessment income tax paid was £17.1 billion in July, £1.7 billion more than last year.
- Spending growth was faster than the money coming in, causing the deficit.
- The total deficit for the first four months of the financial year was £56.7 billion.
- Prime Minister Andy Burnham will chair a meeting with top government officials at No 10 North in Manchester.
- The meeting is called the "growth situation room" and focuses on improving economic growth.
- Chancellor John Healey will announce the government's budget on 28 October.
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