“Government debt hits 99.5pc of GDP
UK debt ratio reaches highest level since 1963 as borrowing exceeds forecast
Energy bill support schemes and soaring debt interest payments pushed up public borrowing to its highest ever December level, official figures show.
This helped to push up the UK's debt share to almost the annual size of the economy, which stood at 99.5pc of gross domestic product (GDP) - the highest share since the 1960s.
The Government borrowed a record £27.4bn in December 2022 to plug the gap between tax receipts and public spending, according to the Office for National Statistics (ONS).
This is £9.8bn more than forecast by the Office for Budget Responsibility (OBR), the government's spending watchdog, and the highest December borrowing since records began in 1993.
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https://www.telegraph.co.uk/business...its-995pc-gdp/
UK debt ratio reaches highest level since 1963 as borrowing exceeds forecast
Energy bill support schemes and soaring debt interest payments pushed up public borrowing to its highest ever December level, official figures show.
This helped to push up the UK's debt share to almost the annual size of the economy, which stood at 99.5pc of gross domestic product (GDP) - the highest share since the 1960s.
The Government borrowed a record £27.4bn in December 2022 to plug the gap between tax receipts and public spending, according to the Office for National Statistics (ONS).
This is £9.8bn more than forecast by the Office for Budget Responsibility (OBR), the government's spending watchdog, and the highest December borrowing since records began in 1993.
“
https://www.telegraph.co.uk/business...its-995pc-gdp/
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