Borrowing in the past financial year was £0.7bn more than the £22.8bn forecast by the Office for Budget Responsibility in its economic and fiscal outlook, March 2019, the Office for National Statistics data showed.
However, at £23.5bn between April 2018 to March 2019, it was £18.3bn less than in the previous financial year, the ONS said, in the figures released on Tuesday.
Central government receipts in April 2019 increased by £1.4bn (2.4%), compared with April 2018, to £61.2bn. Total central government expenditure increased by £1.8bn (2.7%) to £66.5 billion.
“Much of this annual growth in central government receipts in April 2019 came from income-tax-related revenue, with national insurance contributions and income tax increasing by £0.5bn and £0.2bn respectively,” the ONS said.
In April 2019, the interest and dividends paid to central government increased by £0.4bn, compared with the same month in 2018, the official data noted.
Although government received a £0.8bn dividend payment from the Royal Bank of Scotland Group, which was partially offset by a reduction of £0.4bn in the dividends received from the Bank of England Asset Purchase Facility Fund.
The figures released on Tuesday are estimates and the ONS will revise them over the coming months.
