Public finances hit by highest debt interest payments for any July

Government borrowing came in lower than expected last month despite a hit from the highest debt interest payments ever seen for the month of July.

The Office for National Statistics (ONS) said the interest payable on central government debt was £7.7bn while borrowing during the month was the fifth highest for the month of July on record.

That sum came in at £4.3bn - £700m lower, however, than economists polled by the Reuters news agency had expected.

#debt #finance #economy

[russell]

Government should worry about its own credit score before it tries judging us

[straightlinesteve]

Just described a deflationary spiral if the government tries to lower its debt

[perolagrande]

With debt now at 100% of GDP, it's not good enough to have it fall as a percentage of GDP, as it will still be rising due to the government continually running a budget deficit - spending more each year than is generated in tax revenue - which adds to the amount of debt. How anyone can call this 'austerity' is beyond a joke. Last year the Tories had a budget deficit of 5% of GDP, a whopping £120 billion. For every £100 in tax revenue, they spent £110, not reasonable or sustainable. The government shouldn't be subsidising people's energy bills and splurging taxpayers' money, as this is the sorry result that's generated. We'll soon be spending as much on debt interest as on the NHS. Voters need to wake up and understand what's going on, not listen to empty rhetoric about 'austerity'.

[bigd]

2024 everything will.crash for 5 month then we'll go to digital currency best advise is start investing in gold and ull come out wealthy

[ChristopherBosch-ffdt]

Free china bus rides too Americans with a bus and balloon.