UK borrowed bigger than forecast £24.3bn in April as inflation adds to benefits bill
The UK government borrowed £24.3 billion in April 2026, exceeding forecasts due to rising inflation and increased costs for pensions and benefits. This borrowing figure is £4.9 billion higher than the same month last year and £3.4 billion above economists' predictions. The International Monetary Fund has urged the UK to maintain its current borrowing reduction plan amid concerns over political instability and global market conditions.
- ▪Public sector net borrowing in April 2026 was £24.3 billion, significantly higher than expected.
- ▪Debt interest payments reached £10.3 billion, the highest recorded for any April.
- ▪Inflation-linked increases in benefits and pensions contributed to the rise in borrowing.
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Earlier this week the IMF urged Britain to ‘stay the course’ on the chancellor Rachel Reeves’s plan to cut government borrowing. Photograph: Kirsty O’Connor/TreasuryView image in fullscreenEarlier this week the IMF urged Britain to ‘stay the course’ on the chancellor Rachel Reeves’s plan to cut government borrowing. Photograph: Kirsty O’Connor/TreasuryGovernment borrowingUK borrowed bigger than forecast £24.3bn in April as inflation adds to benefits billFigure comes amid rising cost of pensions as bond market jitters take monthly debt interest to £10.3bn Business live – latest updates Richard Partington Senior economics correspondentFri 22 May 2026 03.05 EDTLast modified on Fri 22 May 2026 03.15 EDTSharePrefer the Guardian on GoogleThe UK borrowed more than expected in April as high…
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