UK borrowing rises to £20.2bn, putting pressure on Rachel Reeves

April figure more than expected and comes despite chancellor’s increase in employment taxesThe UK government borrowed more than expected in April, underscoring the challenge for Rachel Reeves to fix public services and grow the economy while meeting her fiscal rules.With the chancellor under pressure on Labour’s tax plans, the Office for National Statistics (ONS) said public sector net borrowing rose to £20.2bn in April, £1bn more than the same month a year earlier and the fourth-highest April borrowing figure on records dating back to 1993. City economists had forecast borrowing of £17.9bn. Continue reading...

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