UK government borrowing rises as Reeves pushes for US trade deal

The government borrowed more than expected last year, placing more pressure on the public finances ahead of the full impact of US tariffs being felt on the UK economy.
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 official figures come as Chancellor Rachel Reeves is set to push for potential trade deal with the US in Washington later to avoid import taxes hitting UK exports.
The higher levels of borrowing has added to growing expectations that Reeves could cut public spending or raise taxes later this year in order to stick to her self-imposed borrowing rules.
In response to the figures, Darren Jones, chief secretary to the Treasury, reiterated that the chancellor’s rules on borrowing were “non-negotiable”, adding that the government would “never play fast and loose with the public finances”.

Source: BBC | Language: English