Borrowing in April hit highest level since Covid
Borrowing was higher than expected last month and retail sales fell as fuel prices surged.
Coverage by Political Leaning
See how different sides of the spectrum reported this story
Notable Quotes
"highlight the deteriorating growth outlook and fragile fiscal backdrop that will face whoever is in 10 Downing Street."
— Ruth Gregory , Academic
"April's borrowing figure was substantially higher than a year earlier."
— Grant Fitzner , Academic
"We estimate that debt interest costs in 2026/27 will be about £15bn higher than assumed in the Budget."
— Rob Wood , Executive
"Cutting borrowing and debt – with our actions reducing government borrowing by over £20 billion last year."
— Lucy Rigby , Politician
"apologised for referring to some of the almost 8,000 staff that are set to lose their jobs to artificial intelligence as 'lower-value human capital'."
— Bill Winters , Executive
"This provides an early sign of the deterioration in the public finances that is inevitable over the coming quarters."
— Ruth Gregory , Academic
"Overall, the big picture is that the UK’s public finances are fragile. That won’t change whoever is prime minister."
— Ruth Gregory , Academic
"Tax hikes to fund spending plans could undermine growth and worsen the fiscal arithmetic."
— Rob Wood , Executive
Key People
Andy Burnham is the chief minister of Jersey and a prominent Labour Party figure.
Bill Winters is the CEO of Standard Chartered.
Grant Fitzner is an economist at the ONS.
British Prime Minister and leader of the Labour Party.
Chief Secretary to the Treasury.
Mel Stride is the Shadow Chancellor.
Chancellor who announced guaranteed paid work placements for youth.
Rob Wood is the chief UK economist at Pantheon Macroeconomics.
Deputy chief UK economist at Capital Economics.
Tags
All Coverage
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 public sector borrowing in April was £24.34 billion, exceeding the Office for Budget Responsibility's forecast, while retail sales fell short of expectations.
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.
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