UK Borrowing Hits £16 Billion in June as National Debt Nears £3 Trillion
Updated
Updated · bbc.co.uk · Jul 21
UK Borrowing Hits £16 Billion in June as National Debt Nears £3 Trillion
3 articles · Updated · bbc.co.uk · Jul 21
Summary
£16 billion in June borrowing left the UK still running a sizable deficit, even though the monthly figure was £7.9 billion lower than a year earlier.
Nearly £3 trillion in public sector net debt now sits close to the size of annual UK GDP, reflecting years of borrowing built up through the financial crisis and the Covid pandemic.
£11.8 billion in June debt-interest payments were £5.3 billion below last year but still the fourth-highest June total on record, keeping pressure on public spending.
£57.6 billion borrowed across April to June was already £2.7 billion above the Office for Budget Responsibility's March forecast, underscoring the fiscal strain facing the government.
84.5% of GDP is the broader debt measure used for the government's fiscal rules, a framework critics say can distort policymaking even as ministers seek room for investment.