Monthly update: April 2026
Borrowing in April was higher than a year earlier and above the official forecast, the second-highest April on record.
Released . provisional
Borrowing this month
- Borrowing rose in April 2026
- £24.3 bn
- Versus the same month last year
- £4.9 billion more than April 2025
- Versus the official forecast
- £3.4 billion above the OBR forecast of £20.9 billion
What changed, and why
- What changed this month?
- The government borrowed £24.3 billion in April 2026, the gap between what it spent and what it raised. This was up on the same month last year and higher than the OBR had forecast.
- Why did borrowing move?
- Spending grew faster than receipts, with higher debt interest and benefit costs among the pressures.
- What happened to tax receipts?
- Receipts grew over the year, helped by income tax and National Insurance, but not enough to offset higher spending.
- What happened to spending?
- Day-to-day spending rose, including on benefits and public services.
- What happened to debt interest?
- Central government debt interest payable was £10.3 billion in April, the highest for any April on record, reflecting inflation uplift on index-linked gilts and higher interest rates.
- How does this compare with the OBR forecast?
- Borrowing came in above the OBR's March forecast for the month, an early sign the year may run higher than planned, though one month is a weak guide and figures are routinely revised.
Source: ONS, Public sector finances, UK: April 2026. Retrieved . provisional
A note on monthly figures
One month is a weak guide to the year. Monthly figures are volatile, seasonal, and routinely revised as fuller data arrives. Read the direction, not the decimal.