The UK budget deficit narrowed from last year in April, but the shortfall was the fourth-highest on record, the Office for National Statistics said on Tuesday.
Public sector net borrowing, excluding banks, decreased by GBP 5.6 billion to GBP 18.6 billion in April. Borrowing remained below the estimate of the Office for Budget Responsibility by GBP 0.5 billion.
Nonetheless, this was the fourth-biggest shortfall since records began in 1993 and also exceeded the economists' forecast of GBP 17.8 billion.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.