UK borrowing surges in April

The UK's public finances are under increasing strain, with borrowing in April exceeding economist forecasts by nearly £5 billion.

Rising interest payments on government debt, which hit £10.3 billion for the month, have offset gains from higher tax revenues.

Chancellor Rachel Reeves is now confronting a difficult fiscal landscape as she attempts to fund new cost-of-living measures while maintaining market confidence.

The data suggests that narrowing the budget deficit will be a slower process than previously anticipated due to the ongoing energy crisis and economic volatility.