Government borrowing increases on energy bill support and debt interest costs
The ONS said the public sector borrowed £139.2 billion in the year to March, £18.1 billion more than in 2021-22 and the fourth highest on record.
The rocketing cost of energy bills support and soaring debt interest saw UK government borrowing jump by more than £18 billion in the year to March, according to official figures.
The Office for National Statistics (ONS) said the public sector borrowed £139.2 billion in the past financial year – the fourth highest since records began and £18.1 billion more than in 2021-22, according to official figures.
But the figure was lower than the £152.4 billion predicted last month by Britain’s fiscal watchdog, the Office for Budget Responsibility (OBR).
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.