UK public borrowing surged to £23.3 billion in May, the highest deficit for any May since lockdown and well above the £18.9 billion forecast by City economists. The Office for National Statistics said the increase was partly driven by £11.7 billion in debt interest payments, which were 50 percent higher than a year ago and the highest for any May on record. Welfare payments also rose by £1.2 billion to £28.4 billion due to cost-of-living adjustments. The figures come amid market jitters following Andy Burnham's decisive by-election victory in Makerfield, with investors concerned about his past calls for nationalisation and criticism of bond market dependence. The Chancellor has borrowed £46.3 billion so far this year, £7.7 billion more than the Office for Budget Responsibility forecast three months ago.