UK Borrowing Higher Than Expected

According to latest statistics released by the Office For National Statistics, UK borrowing was higher that expected in the month of April.

Public borrowing reached £10bn compared with £7.3bn last year which is higher than the £6.5bn analyst’s expected.

Samuel Tombs, at Capital Economics, said he believed the government would struggle to meet its borrowing forecasts this year.

However, he added: “Nonetheless, these are just one set of figures and the trend in borrowing should improve as more of the spending cuts kick in later this year.”

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