UK borrowing up – but beats forecasts

THE Government borrowed £9.96bn last month – the highest figure on record for April.

Last year's April figure was £8.8bn, the Office for National Statistics (ONS) said.

Meanwhile the annual total borrowed by the Government was revised down to £145bn, lower than the £156bn forecast.

The figure is equivalent to 10.4 per cent of GDP.

Howard Archer of Global Insight said: "The good news for the the new Chancellor is that the public finances data for April saw a continuation of the recent trend of slowing deterioration while the 2009/10 Public Sector Net Borrowing Requirement was revised down by £7.5bn to £145.4bn.

"The bad news for Osborne that the public finances remain horrible and that he has one hell of a job in front of him."