Government borrowing for financial year higher than expected

The government borrowed more than expected in the year to March, according to official figures.
Borrowing, the difference between spending and income from taxes, was £151.9bn in the year to March, up £20.7bn from the year before.
The amount borrowed was much higher than the £137.3bn predicted by the UK’s official forecaster, the Office for Budget Responsibility.
The Office for National Statistics (ONS), which released the figures, said borrowing the financial year was the third highest on record.
But the IMF also sees UK inflation going up as bills rise, while economies will be hit by Trump tariffs.

Source: BBC | Language: English