Britain ran a budget deficit in April

Net government debt in the UK reached £25.6bn in April, an increase of £11.9bn on the same period a year earlier due to higher interest on debt due to high inflation.

According to data from the National Statistics Office (ONS), the public debt for April was registered as the second highest debt in April since 1993, when the corresponding data began to be kept.

The increase in debt interest due to high inflation translated into an increase in England’s net public debt to 25.6 billion pounds, an increase of 11.9 billion pounds over the same month of the previous year.

Government debt in April came in at £3.1bn above expectations.

AT THE HIGHEST LEVEL IN 70 YEARS

The central government added £9.8bn to the debt interest bill in April. This figure, which increased by £3.1bn on the same month a year earlier, was the highest figure for April since 1997 when data began to be recorded.

The UK government debt to GDP ratio rose to 99.2% in April, the highest level in 70 years.

According to the statement from the Office of Budgetary Responsibility, energy subsidies as well as interest on the debt were one of the factors in the increase in the budget deficit. Government subsidies for energy support increased to £3.9bn in April, £1.8bn more than the same month last year. (AA)