UK Government Borrowing Surges Amid High Inflation

Wads of British Pound Sterling banknotes are stacked in piles, at the Money Service Austria company's headquarters in Vienna, Austria, on Nov. 16, 2017. Leonhard Foeger/Reuters

The UK’s public sector net borrowing rose to £25.6 billion last month, the second-highest April borrowing on record.

It’s 14 percent higher than the Office for Budget Responsibility’s (OBR) estimate (£22.4 billion) and over 85 percent higher than borrowing in the same month last year (£13.7 billion).