UK borrowing higher than forecast in April

| May 24, 2011 | 0 Comments

The Office for National Statistics (ONS) has today revealed UK public sector borrowing was higher than expected last month, due to a decline in tax receipts.

According to the ONS, public sector borrowing was £10 billion in April, compared with £7.3 billion last year.

Last year’s figure was boosted by £3.5 billion by the tax on bankers’ bonuses.

The figure was much higher than the £6.5 billion expected by analysts with many suggesting the public finances have got off to a bad start this year.

The latest figures will undoubtedly raise concern about the Government’s ability to meet its target of reducing the budget deficit.

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