Government borrowing falls in April

Treasury bonds fell yoy in April but still remain higher than pre-Covid.

Borrowing – the difference between spending and tax receipts – was £18.6 billion, down £5.6 billion from a year earlier.

However, it was the fourth-highest borrowing in April since monthly records began and was £7.9 billion higher than in pre-pandemic April 2019.

Borrowing surged during the pandemic as the government spent billions to support the economy.