Government borrowing higher than expected in April

Here is a story making headlines in the economy: Government borrowing higher than expected in AprilJust now Share Save Add as preferred on GoogleGetty ImagesThe UK government borrowed more than expected in April, according to the latest official figures. Borrowing, the difference between spending and income from taxes, was £24.

9bn higher than at the same point last year, the Office for National Statistics (ONS) said. The figure was also higher than the £20.

9bn that had been predicted by the government's independent forecaster, the Office for Budget Responsibility. ONS chief economist Grant Fitzner said that while tax receipts had risen in April from a year earlier, this "was more than offset by higher spending on benefits and other costs".

Economists are analysing what the news means for the markets.