UK debt jumps to 98 percent of GDPChristian Fernsby ▼ | May 23, 2020
The UK government borrowed £62.1 billion in April, sending net debt to a record 98 per cent of GDP.
Net debt Bank of England
Topics: GDP UK
It was pushed up by government departmental spending that jumped to £91.4 billion last month, vs £55.8 billion for April last year.
That’s an increase of 64 per cent, and only £5.2 billion was the cost of the government’s job retention programme.
That’s eight years’ progress of deficit reduction undone in a matter of weeks. ■