UK government borrowing came in more than forecast in June, a setback for Chancellor of the Exchequer Rachel Reeves that will fan speculation over potential tax hikes to shore up the public finances.
A surge in debt-interest payments sent the budget deficit to £20.7 billion ($27.9 billion), the Office for National Statistics said on Tuesday, £6.6 billion more than a year earlier and well above the £17.5 billion economists surveyed by Bloomberg expected.
Elsewhere, Treasury Secretary Scott Bessent said in a social media post Monday that there should be a review of the decision to renovate parts of the Federal Reserve headquarters in Washington.
Today’s guests, Marina Zavolock, Morgan Stanley Chief European Equity Strategist, Jasmine Groschl, Allianz Senior Economist, Eivind Kallevik, Norsk Hydro CEO.
Chapters:
00:00:00 – The Pulse
00:04:02 – Bessent Says Review of Fed’s Building Renovations Is Needed
00:08:27 – Marina Zavolock, Morgan Stanley Chief European Equity Strategist
00:16:08 – Jasmine Groschl, Allianz Senior Economist
00:17:22 – Groschl: Germany is Undergoing a Fiscal Reset
00:27:35 – Eivind Kallevik, Norsk Hydro CEO
00:30:34 – Japan’s Ishiba Tries to Buy Time After Election Setback
00:35:00 – UK Borrowing Heightens
00:38:11 – White House Says Trump ‘Caught Off Guard’ by Israel’s Bombing of Syria
00:38:44 – White House Removes WSJ from Scotland Trip After Epstein Report
00:44:41 – Capital Gains Vanish Into ‘Black Holes’
——–
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