|

Borrowing in April slightly above forecast

Initial outturns for April 2024 suggest that borrowing was £1.2 billion (6.3 per cent) higher than our March forecast profile. This was driven by each of departmental expenditure on goods and services and spending on net social benefits coming in above forecast, and central government receipts coming in below forecast (by £0.8 billion in each case). Local authorities’ borrowing provided a partial offset. However, these data remain provisional at this time of year, in particular for departmental spending which is often subject to large revisions.

Line chart showing cumulative public sector net borrowing

News

Articles

Key publications

Medium-term forecasts

Five year forecasts for the UK economy and public finances and an assessment of whether the Government is likely to achieve its fiscal targets.

Fiscal risks and long-term projections

Report into the main fiscal risks facing the UK and sustainability of the public finances.

Forecast evaluation

Assessment of how our forecasts compare to outturn data and identifying lessons for future forecasts.

Welfare spending trends

An in-depth look at the drivers of welfare spending both inside and outside the Government’s welfare cap.

Monthly commentary

Our monthly commentary on the latest public finances data and how it compares to our most recent forecast.

Welsh taxes

We are commissioned by the Welsh Government to produce independent forecasts for devolved Welsh taxes.