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The UK Authorities borrowed greater than anticipated for the newest monetary yr, in accordance with new official figures.
Public sector internet borrowing rose to £151.9 billion within the yr to the tip of March, the Workplace for Nationwide Statistics (ONS) mentioned.
This was £14.6 billion increased than the £137.3 billion forecast by the Workplace for Price range Accountability.
The yearly determine was additionally £20.7 billion greater than the identical interval a yr earlier.
The ONS mentioned it was the third-highest stage of borrowing in any monetary yr since data started in 1947, behind the Covid pandemic within the yr to 2021, and the 2010 monetary yr following the worldwide disaster.
It comes as borrowing rose to £16.4 billion final month, the third-highest March borrowing since month-to-month data started, the brand new figures present.
Grant Fitzner, the ONS’s chief economist, mentioned: “Our preliminary estimates counsel public sector borrowing rose nearly £21 billion within the monetary yr simply ended as, regardless of a considerable enhance in earnings, expenditure rose by extra, largely attributable to inflation-related prices, together with increased pay and profit will increase.
“On the finish of the monetary yr, debt remained near the annual worth of the output of the financial system, at ranges final seen within the early Sixties.”
