The UK government posted a record £16.5bn budget surplus in April, thanks to the transfer of assets from the Royal Mail pension fund. Public finances were boosted by the one-off transferral of £28bn of Royal Mail assets, the Office for National Statistics (ONS) said. The surplus in public sector net borrowing, excluding interventions such as bank bailouts, compared with a deficit of £9.1bn in April 2011. Borrowing in 2011-12 was revised down. Borrowing in the last fiscal year, previously stated as £126bn, has now been revised to £124.4bn "almost entirely due to a £1.5bn revision to ... (full story)