UK borrowing costs surge to higher-than-expected £24.3bn as Rachel Reeves faces 'financial strain'
UK borrowing costs surged to a higher-than-expected £24.3billion last month, according to the latest figures from the Office for National Statistics (ONS).
This represents the second-highest April level on record for borrowing, as economists warn Chancellor Rachel Reeves has an uphill battle in improving the economy.
Based on today's ONS figures, borrowing for April 2025 was a quarter higher, or £4.9 billion, than the year before.
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