UK Government Borrowing Hits £24.3bn in April, Exceeding Forecasts

The UK government’s borrowing exceeded expectations in April, according to official data.

Borrowing, defined as the difference between spending and tax income, totaled £24.3 billion last month.

That figure was £4.9 billion higher than in April 2023, the Office for National Statistics reported.

It also surpassed the £20.9 billion forecast by the Office for Budget Responsibility, the government’s independent fiscal watchdog.

ONS Chief Economist Grant Fitzner said that while tax receipts had risen in April from a year earlier, this “was more than offset by higher spending on benefits and other costs”.