UK annual borrowing exceeds forecasts by almost £15bn

Figure of £151.9bn more than £20bn higher than previous financial year, adding to pressure on Rachel Reeves

Britain entered the economic shock from Donald Trump’s trade wars with government borrowing having overshot official forecasts by almost £15bn in the most recent financial year.

Adding to the pressure on the chancellor, Rachel Reeves, the Office for National Statistics said borrowing in the financial year ending in March was £151.9bn, more than £20bn higher than in the previous financial year.