Borrowing in April hit highest level since Covid

Borrowing was higher than expected last month and retail sales fell as fuel prices surged.

UK public sector borrowing in April increased by 25% from the previous year to £24.3 billion, marking the second-highest borrowing figure for April on record.

UK public sector borrowing in April reached £24.3 billion, the highest for April since the Covid pandemic, driven by increased spending and record debt interest payments.

Retail sales rose by 0.5% in April, a slowdown from March, as higher gas prices, influenced by the Iran war, reduced consumer spending on nonessentials.

UK government borrowing in April reached £24.3 billion, the second-highest for April, amid concerns over the Iran war and political uncertainty, while retail sales declined as consumers cut back on fuel purchases.

UK public sector borrowing in April was £24.34 billion, exceeding the Office for Budget Responsibility's forecast, while retail sales fell short of expectations.