When will Boris get serious about balancing the budget?

Should we be pleased that net government borrowing for June came in below expectations, at £22.8 billion – £5.5 billion less than June 2020? Should we see it as a sign that the economy is recovering a little faster than had been hoped? That is the spin being put on the public borrowing figures released this morning. An alternative, and less rosy, view might come from examining two figures in particular. Firstly, while borrowing is down compared with June 2020, public spending is actually up. Over the month the government spent £84.1 billion of our money, £2.5 billion more than in the same month a year earlier.

That is extraordinary. In June 2020, we were still very much in the depths of lockdown. Non-essential shops were not allowed to open until 15 June; hospitality was not allowed to open its doors until July.