UK government borrowing up £500m in June

British Chancellor George Osborne's debt-busting plans were dealt a blow today when figures showed underlying Government borrowing rose around £500m (€580m) in June.

Public sector net borrowing, excluding distortions such as bank bailouts and quantitative easing (QE) cash transfers, increased in June to £12.4bn (€14.4bn) from £11.9bn (€13.8bn) a year earlier, the Office for National Statistics (ONS) said today.