UK borrowed £24.3bn in April as spending outpaced revenue
Business
The UK borrowed £24.3 billion in April, way above last year's £19.4 billion and higher than what experts expected.
The main reason? Government spending outpaced tax income, especially with bigger bills for benefits and pensions as inflation pushed costs up.
Record £10.3bn interest payments worry economists
Interest payments on debt also hit a record £10.3 billion in April.
Economists warn that global events like tensions involving Iran and weaker growth forecasts could keep borrowing high, possibly leading to tough budget choices later this year.