Pandemic pushes national debt to 100.5% of GDP for first time since March 1961
- Live business updates: UK national debt hits £2tn for first time
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Britain’s national debt has hit £2tn for the first time as the cost of fighting the Covid-19 pandemic pushed public debts above the size of the UK economy.
Figures from the Office for National Statistics showed public sector net debt increased by £227.6bn over the past year to £2,004bn in July, taking the national debt to 100.5% of GDP for the first time since March 1961.
Continue reading…Pandemic pushes national debt to 100.5% of GDP for first time since March 1961Live business updates: UK national debt hits £2tn for first timeCoronavirus – latest updatesSee all our coronavirus coverageBritain’s national debt has hit £2tn for the first time as the cost of fighting the Covid-19 pandemic pushed public debts above the size of the UK economy.Figures from the Office for National Statistics showed public sector net debt increased by £227.6bn over the past year to £2,004bn in July, taking the national debt to 100.5% of GDP for the first time since March 1961. Continue reading…
