July data shows total public debt was £2. 98tn, or 94% of GDP – up £96bn on a year earlier Business live – latest updates The UK government ran a larger than expected £1. 8bn deficit in July, underlining the challenges facing the chancellor, John Healey, as he draws up his first budget.
Source: [Guardian World](https://www.theguardian.com/politics/2026/aug/21/uk-unexpected-deficit-john-healey-prepares-for-first-budget)