Government borrowing rises by £500m

Press Association
George Osborne
George Osborne

Chancellor George Osborne's debt-busting plans have been dealt a blow after figures showed underlying Government borrowing rose by around £500 million in June.

Public sector net borrowing, excluding distortions such as bank bailouts and quantitative easing (QE) cash transfers, increased in June to £12.4 billion from £11.9 billion a year earlier, the Office for National Statistics (ONS) said.