Government borrowing jumped by £18 billion in the year to March 2023, with the figure blamed on rising interest rates and the cost of supporting energy bills.
The Office for National Statistics (ONS) said public sector borrowing reached £139.2 billion in 2022/23, the fourth-highest figure since records began and £18.1 billion more than in 2021/22, according to official figures.
But the Office for Budget Responsibility (OBR) predicted last month the figure would be £152.4 billion.
In November government borrowing rose to a record £22 billion.
In the last six months the government has shelled out £41.2 billion to support households and businesses with energy costs.
High inflation has also increased interest payments on public sector debt to £106.6 billion, 47 percent higher than the previous year….