UK public sector borrowing soars to £25.6bn

Nearly £12bn more than April 2022

The UK public sector borrowed a net £25.6bn over April 2023, according to data from the Office for National Statistics.

The figure was the second highest April borrowing level since monthly records began in 1993, the ONS said. This sum was nearly £12bn greater than April 2022's figure and sits behind April 2020's record figure of £49.1bn. IMF: UK expected to avoid recession in 2023 The ONS explained public sector borrowing consists of current budget deficits and capital expenditure (also known as net investment). These components sat at £19.4bn and £6.2bn, respectively - a £10.1bn increase for budget deficits and £1.8bn rise for capital expenditure compared to April 2022. Central government forms...