UK borrowing in May surges by more than expected (opens original article in a new tab)

UK borrowing in May rose sharply above forecasts, with interest payments hitting a record high as the war in the Middle East and energy prices impacted fiscal figures.

• UK borrowing in May was £23.3bn, £5.6bn higher than OBR's forecast
• Interest payable on government debt reached £11.7bn in May, a record for the month
• The OBR's forecast did not account for the full impact of the Middle East war