US EditionGovernment borrowing in December surges to £17.8 billion
- The UK government borrowed £17.8 billion in December 2024, which is £10.1 billion more than in December 2023 and the highest level for the month in four years.
- Between March and December 2024, borrowing totaled £129.9 billion, which is £8.9 billion more than the same period a year earlier.
- The amount of interest paid on national debt was £8.3 billion in December 2024, which is £3.8 billion more than in December 2023 and the third-highest figure since records began.
- The Independent Office for Budget Responsibility will present its latest economic forecast to Parliament in late March, warning that public debt could soar as the population ages and tax income falls.
31 Articles
31 Articles
UK public borrowing surges, adding to gov't pressures
London, United Kingdom — UK public borrowing jumped more than expected in December, official data showed Wednesday, adding pressure to the Labour government and Prime Minister Keir Starmer as they battle economic headwinds. Public-sector borrowing stood at £17.8 billion ($21.9 billion) last month, a £10 billion increase from December 2023, the Office for National Statistics
UK Borrowing Jumps in December as Debt Interest Climbs
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UK borrowing jumps in December as debt interest climbs
Britain ran a bigger-than-expected budget deficit in December, swelled by debt interest costs and a one-off purchase of military homes, according to official data that underlined the fiscal pressure faced by finance minister Rachel Reeves.
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