The government borrowed £14.6 billion more than official forecasters expected last year, suggesting further tax rises or spending cuts from Rachel Reeves may be necessary to strengthen the public finances, official figures on Wednesday showed.
In the financial year to March, the government borrowed £151.9 billion, according to the Office for National Statistics (ONS), up by £20.7 billion across the same 12-month period a year earlier. In March alone, borrowing totalled £16.4 billion, the third-highest figure for the month since records began in 1993.
The annual deficit figure was much higher than the £137.3 billion the Office for Budget Responsibility (OBR) forecast at the March spring statement. It will put pressure on the chancellor, who will deliver her next comprehensive budget in the autumn after
