Economics

Government borrowing hit record levels in April

Whitehall has borrowed close the same amount in April as it did in the last full financial year

UK government borrowing surged to unprecedented levels in April amid efforts to protect the British economy from the impact of the Covid-19 crisis.

Central government net cash requirement, the amount indicating the deficit, was £63.5bn in April – the highest figure in any month on record since records began in April 1984. This compares to a surplus of £9.8bn in April of last year, according to data published today by the Office for National Statistics.

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