The Office for National Statistics released public sector net borrowing for the U.K. on Friday. The public sector net borrowing in the U.K. declined to -£2.07 billion in July from £8.64 billion in June, beating expectations for a drop to -£2.4 billion. June's figure was revised up from £8.58 billion.
Public sector net borrowing excluding public sector banks fell by £1.4 billion to a surplus of £1.29 billion.
The increase was driven by the tax receipts.