UK government borrowing in the financial year ended March 31 has been provisionally estimated at £148.3 billion, according to the UK’s Office for National Statistics (ONS).

That is £3.7 billion lower than the initial estimate of the ONS published in April 2025 — but still £11 billion more than the £137.3 billion forecast by the Office for Budget Responsibility (OBR).

UK borrowing was £20.2 billion in April 2025 — £1 billion more than in April 2024 and the fourth-highest April borrowing since monthly records began.

The ONS said its new estimate of UK public sector net debt (PSND ex) at the end of March 2025 is £2.807 trillion. This is down by £6.6 billion.

The interest payable on UK central government debt was £9 billion in April 2025, £0.5 billion less than in April 2024.

The UK’s chief secretary to the Treasury Darren Jones said: “After years of economic instability crippling the public purse, we have taken the decisions to stabilise our public finances, which has helped deliver four interest rate cuts since August, cutting the cost of borrowing for businesses and working people.

“We’re fixing the NHS, with three million more appointments to bring waiting lists down, rebuilding Britain with our landmark planning reforms and strengthening our borders, delivering on the priorities of the country through our plan for change.”