Britain's public borrowing up 1 bln pounds in April

London - Alsharq Tribune- Mohamed Otaify 

Public borrowing in the United Kingdom (UK) surged to 20.2 billion British pounds (27.07 billion U.S. dollars) in April, marking the fourth-highest level since monthly records began in 1993, official data showed Thursday.

The borrowing, the difference between spending and income, went up 1 billion pounds from the same period last year, according to the Office for National Statistics (ONS). The figure for the financial year ending March 2025 was estimated at 148.3 billion pounds, 11 billion pounds higher than the projection made by the government's spending watchdog, the Office for Budget Responsibility.

Public sector net debt excluding public sector banks was estimated at 95.5 percent of gross domestic product (GDP) at the end of April. This was 0.7 percentage points more than that at the end of April 2024 and remained at levels last seen in the early 1960s, ONS data also showed. April marks the beginning of the new fiscal year in Britain.

According to the new budget arrangement, the employer national insurance contributions will be raised in the new fiscal year, aiming to generate revenue growth for the country's public finance. At the same time, the amount of public borrowing by the British government is still increasing due to the continuous growth of public expenditure. (1 pound = 1.34 U.S. dollar)