The UK’s public sector net borrowing rose to £25.6 billion last month, the second-highest April borrowing on record.
It’s 14 percent higher than the Office for Budget Responsibility’s (OBR) estimate (£22.4 billion) and over 85 percent higher than borrowing in the same month last year (£13.7 billion).
The figure is also the sixth highest since monthly records began in 1993, only eclipsed by some months during the COVID-19 pandemic.
But the borrowing during financial year 2023/24 was less than the OBR forecast of £152.4 billion, standing at £137.1 billion.
The Office for National Statistics (ONS) said additional spending in the energy support schemes, benefit payments, and costlier national debt interests contributed to the swelling in April’s borrowing….