• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

DOOM: 99.5%

  • Filter
  • Time
  • Show
Clear All
new posts

    DOOM: 99.5%

    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.


    That is DOOM!


      UK national debt is only a bit more than the total market cap of Apple.

      So not really that much.
      Last edited by Fraidycat; 24 January 2023, 20:00.


        Wasn't the Tories only job is to leave the country's debt in decent shape whilst depleting public services?

        "You’re just a bad memory who doesn’t know when to go away" JR