Figures from the Office for National Statistics showed the government borrowed £120.7bn in the 2023-24 financial year -£6.6bn more than the Office for Budget Responsibility (OBR) had expected.
Although the borrowing overshoot does not rule out fresh tax cuts before an autumn election, analysts say it would make life more difficult for the chancellor.
Borrowing in March was just under £12bn almost £5bn lower than in the same month a year ago but higher than the financial markets had predicted. The OBR said tax receipts in March had been more than £5bn lower than it had anticipated.
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