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UK government debt hits record £2 trillion amid Covid-19 relief effort | ITV News
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Public sector borrowing has hit more than £2 trillion for the first time in history as ministers invest billions of pounds to support the economy through the pandemic, new figures have revealed.
The Office for National Statistics (ONS) said official bodies borrowed £26.7 billion in July, the fourth highest amount of any month since records began in 1993.
It pushed debt to around £2,004 billion for the first time ever, and means that the public sector debt is higher than gross domestic product (GDP) – the value of everything produced in the UK in a year.
The Office for National Statistics (ONS) said official bodies borrowed £26.7 billion in July, the fourth highest amount of any month since records began in 1993.
It pushed debt to around £2,004 billion for the first time ever, and means that the public sector debt is higher than gross domestic product (GDP) – the value of everything produced in the UK in a year.
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