UK borrowing rises to £24.3 billion in April amid higher benefits and debt interest

The UK government borrowed significantly more than expected in April, with the deficit hitting its second-highest level on record for the month as rising spending on benefits and debt interest weighed on public finances. Official figures released Friday showed public sector net borrowing reached £24.3 billion, which was £4.9 billion higher than in April of the previous year and £3.4 billion above independent forecasts.

The Office for National Statistics reported that while tax receipts increased, this was more than offset by higher government spending. Central government spending on social benefits rose by £2.7 billion to £29.5 billion, a jump officials attributed to inflation-linked increases in many benefits and an earnings-linked rise in the state pension. Simultaneously, debt interest payments climbed to £10.3 billion, an increase of £0.9 billion from a year earlier and the highest for any April on record.

Chief Secretary to the Treasury Lucy Rigby emphasized the government's commitment to its fiscal strategy, noting that borrowing was reduced by over £20 billion last year. She stated that the International Monetary Fund had endorsed the government's economic plan and...