UK Government Borrowing in May Reaches Third Highest on Record

Despite being lower than forecasts, borrowing figures highlight significant fiscal challenges ahead of the general election.

Public sector borrowing in May hit £15bn, £800m higher than the same month last year.
The figure was £600m less than the Office for Budget Responsibility's forecast.
Government debt as a percentage of GDP rose to 99.8%, the highest since 1961.
Interest payments on government debt reached £8bn, one of the highest amounts on record.
Economists warn that the next chancellor will face substantial fiscal challenges due to high debt and interest rates.