Government debt hits record £2 trillion amid coronavirus relief effort

Public sector debt in Britain has breached £2 trillion for the first time as government borrowing hit £26.7bn in July.
The Office for National Statistics (ONS), which published the figures on Friday, said borrowing for July was £28.3bn more than the same period last year, and the fourth-highest since records began in 1993.
Debt reached £2.004 trillion for the first time, and is up around £227.6bn from a year ago.

[simonmorgan]

That's over £29, 000 owed for each and every one of us. This is disgusting.

[sagittariusa]

And wasted billions on paying the French for their navys taxi service, putting up invaders in 4 star hotels, foreign aid to China, the theatre and arts, unsuitable PPE not to mention them still ploughing on with HS2.

[donkeystains]

A fair chunk of that was spent in Syria, Afghanistan and iraq ?? Or did they turn a profit there ????

[BungalwBen]

I like how is says government debt. Not the tax payers???

[angelaparker]

Well I’m sure they will all make lots of money through their investments while the public will have to foot the bill as usual

[lgbtdestruction.]

Half the politicians salaries their absolutely pathetic. They will have to suffer from their own mistakes for once.

[johnvonhorn]

Fifth largest economy in the world. Why on earth is Britain in so much debt? The answer; welfare spending and absurd levels of spending on the elderly (40% of the entire NHS budget and 45% of all welfare spending goes on the over 65s - in return they have the lowest state pensions, compared to final salary, in the whole of the OECD - worse than Mexico's and Chile's). The good news is; no political party in the UK considers this a problem, they'll just print and borrow whatever they need and kick the can down the road. Debt interest is now the fourth largest expenditure of government spending; behind welfare, NHS and education.

[georgegold]

*Shows that 10 years of austerity was unneccesary* 🙄

[ihvsego]

Depression here we come. 2021 is going to be anarchy.

[colinfoster]

ex Goldman Sachs banker as a Chancellor.
He only understands casino economics of the stock market

[tlesta]

And da printer goes
From millions to billions and now trillions n there ££££ making scheme will never end. Take your money out the system and research into cryptocurrencies e.g bitcoin ethereum and the power of DEFI

[mrmagno]

Fu** it shall we just declare ourselves bankrupt and start again 😂

[theambivalentpsbloke]

*If they weren't signing dodgy deals & giving their associates millions to mess up the projects they're being paid to do then... I'm sure it wouldn't seem quite so bad.*

[josephstalin]

We need low taxes. To let is country live

[MMiler]

And to think we could have had a PM who would've taxed the tax avoiders, and loophole loving corporations, and anyone earning over 80k per year to mitigate this for the average household. But nope, the UK suckered again.

[tomhud]

and guess who is going to be paying all this money back

[tysonsmith]

IS THAT ALL? I WOULD OF THOUGHT IT WOULD HAVE BEEN HIGHER JUDGING BY THE RATE FRANCE ARE SENDING THE OVER, MUST BE D ABBOTT DOING THE COUNTING.😢

[pjo]

Never have the British public been so throughly deserving of their Government as they are now. Long may the Tories reign.

[scotthughes]

I would like to know what Rushi has up his sleeve as the public will end up paying the bill.

[nobby]

politicians should be banned from been payed a wage
we must make them work for free
then the real people who care would take over, leaving the greedy counts with nowt to do!
pay the politicians who succeed in their work by paying them percentages of their successful work only
do not pay them if they do bugger all!