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Public sector net borrowing hit £20.5 billion last month, far exceeding forecasts as inflation-driven debt interest payments surged. The shortfall marks the highest April deficit since records began in 1993, intensifying pressure on Chancellor Rachel Reeves to curb spending.
Chancellor Rachel Reeves has scrapped plans for a universal energy bill rescue this winter, instead rolling out targeted summer savings aimed at easing immediate financial strain. Free child bus travel in August and a fuel duty freeze headline a package designed to shift focus from winter’s looming affordability crisis.
The UK economy expanded by 0.8% in Q1 2026, outpacing forecasts and marking the sharpest rise in four years. Analysts cite falling energy costs and increased business investment as key drivers. Households are feeling the pinch, however, with real wages still lagging behind pre-pandemic levels.