UK borrows more than expected as impact of Iran war takes toll

May figure of £23.3bn underlines challenge facing Andy Burnham if he ends up as Labour leaderBusiness live – latest updatesThe UK borrowed a higher-than-expected £23.3bn in May amid the economic fallout of the Iran war, underlining the fiscal challenges facing Andy Burnham if he takes over as Labour leader.In figures released shortly after Burnham’s victory in the Makerfield byelection, Office for National Statistics (ONS) said public sector net borrowing for the month was the second highest for any May on record. Continue reading...