UK Debt Nears £3 Trillion as Government Borrowing Unexpectedly Climbs

UK debt nears £3 trillion as government borrowing unexpectedly climbs

Most economists had forecast zero borrowing last month while the OBR had predicted a £500 million surplus

Borrowing Rises Above Forecasts in July

New figures from the Office for National Statistics show that total UK debt is at £2.985 trillion. A hair's breadth of the £3 trillion mark... Borrowing

National Debt Edges Closer to £3 Trillion After July Borrowing Figures – NATIONAL NEWS

New figures from the Office for National Statistics show the UK government borrowed £1.8 billion more than it raised in July, pushing the national debt to £2.985 trillion, close to the £3 trillion mark. Economists had actually expected the government to break even in July, a month that typically benefits from a wave of self-assessed tax payments from the self-employed. Instead, a 7.2 percent jump in benefit spending, adding roughly £2 billion, b…

UK National Debt Nears £3 Trillion as Interest and Welfare Costs Rise

Britain’s public sector net debt has climbed to £2.985 trillion, putting the country within touching distance of the £3 trillion mark as higher debt-interest costs and welfare spending continue toRead More...