Government borrowed £62BILLION in April the highest on record

Government borrowed £62BILLION in April the highest on record as it bailed out millions of businesses and workers with coronavirus lockdown wreaking havoc on the economy

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The scale of the coronavirus hit on the public finances was laid bare today with figures showing the government borrowed a record £62.1 billion in April.

The eye-watering figure was the highest for any month on record, amid desperate moves to bail out millions of workers and businesses.  

It was even higher than analysts had predicted, with a consensus of economists predicting £30.7billion for the month.

The sum is thought to have pushed total public debt over the £2trillion mark for the first time. 

The Office for National Statistics (ONS) said borrowing was £51.1 billion higher than the same month last year

The Office for National Statistics (ONS) said borrowing was £51.1 billion higher than the same month last year. 

The sum for April was almost the same as the entire financial year from April 2019 to March this year – estimated at £62.7 billion.

The Office of Budget Responsibility has warned that the government could borrow £300billion this year.  

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