In this morning’s ONS release, estimated borrowing over 2024-25 has been revised down to £148.3 billion, while borrowing in April 2025 was estimated to be £20.2 billion. Borrowing in April is £1.0 billion above last year and £3.5 billion below the monthly profile consistent with our March forecast, with cash receipts slightly above profile and central government net investment lower than expected. The downward revision to estimated borrowing in 2024-25 is mainly explained by additional cash receipts in April that accrue to the previous year. Further revisions to 2024-25 are likely later in the year when additional data on spending and local authority borrowing becomes available.
"It is the duty of the Office to examine and report on the sustainability of the public finances"