Very tough budget looms as interest rate costs on bonds drive June figure to second-highest on recordUK borrowing rises more than expectedBusiness live – latest updatesJune’s public finances data, published on Tuesday, make a depressing end-of-term report card for Rachel Reeves, as MPs prepare to depart Westminster for the summer recess.The Office for National Statistics (ONS) said public borrowing jumped to £20.7bn last month – a full £3.5bn higher than expected by the independent Office for Budget Responsibility (OBR). Continue reading...