Government borrowing surpassed expectations as high inflation sent the cost of interest payments on the public debt surging.

Public sector net borrowing stood at £25.6bn last month, higher than the £19.1bn economists had expected.

It was an increase of £11.9bn on the same month last year and the second-highest April borrowing since monthly records began in 1993.

In March, the Government increased borrowing by £21.5bn, the second-highest March figure since records began.

The rising payments come as the cost of the Government funding its debt surges amid rising inflation, with interest payable linked to the Retail Prices Index measure of inflation.

It comes after the Chancellor decided in his March Budget to continue subsidising household energy bills, capping payments at £2,500 a year on average under the Government’s Energy Support Scheme.

However, the Treasury did stop its handouts of £67 per month per household toward energy bills at the end of March.

It meant that public sector debt excluding public sector banks was £2,536.9bn at the end of April, or around 99.2pc of GDP

The Government had borrowed £2,530.4bn in March - around 99.6pc of GDP.

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