Home Economy UK borrowing falls in April, to £31.7bn, as Covid-19 costs remain high...

UK borrowing falls in April, to £31.7bn, as Covid-19 costs remain high – business live | Business

18

Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

Britain’s borrowing hit its second highest level for an April ever, as the cost of tackling the Covid-19 pandemic and protecting the economy continues to rise.

Public sector net borrowing last month is estimated to be £31.7bn, figures released by the Office for National Statistics this morning show. That’s £15.6bn less than in April 2020, when Britain borrowed around £47bn in the first wave of the pandemic.

It’s still the second highest April borrowing since monthly records began in 1993, due to the ongoing healthcare costs of fighting Covid-19 — such as NHS Test and Trace programme and the vaccine rollout — and schemes such as the furlough programme.

But, it’s actually less than the £39bn which the Office for Budget Responsibility had expected the UK to borrow last month, in its March forecasts.



Click here for full article…www.theguardian.com