Andy Burnham, alongside the newly appointed Chancellor John Healey, received positive news with a significant decrease in government borrowing for the month of June, as per official data released by the Office for National Statistics (ONS).

The ONS reported a reduction in borrowing to £16 billion last month, marking a £7.9 billion decrease compared to the previous year. This figure was also £300 million lower than the forecast by the Office for Budget Responsibility. The decline was mainly attributed to lower inflation-linked debt interest costs, according to the ONS.

John Healey, who was unexpectedly appointed as Chancellor by Prime Minister Andy Burnham, emphasized the importance of fiscal responsibility and economic stability. He highlighted the commitment to meeting fiscal rules and ensuring affordability for working individuals across the UK.

Central government debt interest payments in June 2026 amounted to £11.8 billion, reflecting a decrease of £5.3 billion from the previous year but still ranking as the fourth highest June on record, as stated by the ONS.

Economist Nabil Taleb from PwC UK cautiously welcomed the latest figures, expressing the need for economic plans that do not strain the public finances. He emphasized the significance of credible funding and prudent borrowing to avoid potential financial challenges in the future.

The upcoming months will be crucial in determining whether the government’s agenda provides breathing space or adds to financial pressures, as highlighted by Taleb.