United States

UK borrowing at record high as virus cost soars in April

The government borrowed £62.1bn in April, the highest monthly figure on record, according to official figures.It underlines the cost of coping with the coronavirus pandemic through jobs schemes and loans, and is double the forecast of many economists.The cost of furlough schemes had the largest impact, hitting £14bn in April.The government's independent forecaster, the OBR, has said the gap between the UK's borrowing and spending could hit £298bn this year.Jonathan Athow, deputy national statistician at the Office for National Statistics (ONS), described April's figure as "pretty much unprecedented".He told the BBC: "Borrowing now is about six times what it was [in April] last year, so we are talking about some really significan ...