According to the Office of National Statistics (ONS) data, public debt in April was recorded as the second-highest April debt since 1993, when the relevant data began to be kept.
The rising debt interest rate in the face of high inflation was effective in the rise of England’s net public debt to 25.6 billion pounds, with an increase of 11.9 billion pounds compared to the same month of the previous year.
Public debt in April came in at £3.1bn above expectations.
The central government added £9.8 billion to the debt interest bill in April. This figure, which increased by 3.1 billion pounds compared to the same month last year, was the highest April figure since 1997, when data began to be recorded.
The ratio of public debt to GDP in the UK rose to 99.2 percent in April, the highest level in the last 70 years.
According to the statement of the Budget Responsibility Office, energy subsidies as well as the debt interest were one of the factors in the increase in the budget deficit. Government subsidies for energy support rose to £3.9 billion in April, up £1.8 billion from the same month last year.