Government borrowing higher than expected in April
The UK government reported higher-than-expected borrowing figures for April. The borrowing reached £24.3 billion, exceeding predictions and last year's figures. This increase was attributed to rising spending on benefits and other costs despite a rise in tax receipts.
- ▪UK government borrowing in April was £24.3 billion.
- ▪This figure was £4.9 billion higher than the same month last year.
- ▪The borrowing was also above the predicted £20.9 billion by the Office for Budget Responsibility.
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Government borrowing higher than expected in April7 minutes agoShareSaveAdd as preferred on GoogleGetty ImagesThe UK government borrowed more than expected in April, according to the latest official figures.Borrowing, the difference between spending and income from taxes, was £24.3bn last month, £4.9bn higher than at the same point last year, the Office for National Statistics (ONS) said.The figure was also higher than the £20.9bn that had been predicted by the government's independent forecaster, the Office for Budget Responsibility.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".UK economyOffice for National Statistics
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