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Financial News: UK Budget Posts Second Biggest April Deficit On

UK Budget Posts Second Biggest April Deficit On Record

05/25/2021 - 03:15:00 (RTTNews)

(RTTNews) - The UK budget registered its second biggest shortfall on record for the month of April, the Office for National Statistics reported Tuesday.

The public sector net borrowing, excluding public sector banks, increased to GBP 31.7 billion in April. This was the second highest April borrowing since monthly records began in 1993, and was GBP 15.6 billion less than in April 2020.

In the financial year ending March 2021, public sector net borrowing was GBP 300.3 billion, revised down by GBP 2.8 billion from last month's first provisional estimate but remained the highest borrowing since financial year records began in FYE March 1946.

Public sector net debt totaled GBP 2,171.1 billion at the end of April, or around 98.5 percent of GDP, the highest ratio since the 99.5 percent recorded in March 1962.

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