Chancellor accused of 'maxing out' Britain's credit card as borrowing hits £20billion

TAXPAYERS are braced for rises with Government borrowing hitting more than £20billion last month - £1billion more than last year.

- By David Williamson

Chancellor Rachel Reeves is accused of “maxing out the national credit card” by the Conservatives.

The £20.2billion figure is the fourth highest for April since monthly records started in 1993.

Analysts had expected borrowing to come in at £17.6billion.

Shadow Chancellor Mel Stride said: “Instead of reining in spending, the Institute think tank, warned: “The fact that government borrowing is going up should alarm everyone.

“Over 8% of public spending is spent on debt repayment already.

“By increasing that number we're taxing our children, kicking the can down the road and making Britain a less attractive place to do business. We shouldn't be spending money that we don’t have to pay for a state that’s too big and too inefficient.

“Instead, we need to cut the bloat and reduce Government spending so we can lower taxes and give money back to the people who can spend it best - the individual Briton.”