The government borrowed less than expected last month, official figures show. According to the latest data from the Office for National Statistics (ONS), public sector net borrowing hit £18.5 billion in June. It is a fall from May’s £20 billion and lower than expected by economists, who had forecast borrowing to hit £22 billion, according…
Energy Support Schemes Drive UK Government Borrowing to February Record
March 21, 2023
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Business & Marketseconomic policieseconomyenergyenergy pricesgovernment borrowinginflationJeremy HuntRussian Invasion of UkraineUKWorld
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The cost of the UK government’s energy support scheme caused public sector borrowing to soar to a record £16.7 billion last month, official figures show. According to the Office for National Statistics (ONS), public sector net borrowing in February was £16.7 billion, £9.7 billion more than the same month a year ago and the highest…
Energy Support and Debt Interest Send UK Public Borrowing to Record High
January 24, 2023
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Business & Marketseconomic policieseconomyenergygovernment borrowingIain Duncan SmithinflationRishi SunakUKWorld
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The UK’s public borrowing rose to another record high last month as a result of the mounting cost of the government’s energy support schemes and soaring debt interest. According to the latest figures released by the Office for National Statistics (ONS), UK public sector borrowing reached £27.4 billion in December 2022, the highest December figure…
UK Government Borrowing Rises to Record £22 Billion in November
December 21, 2022
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Business & Marketseconomic policieseconomyenergyenergy pricesgovernment borrowinginflationJeremy HuntUKWorld
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The UK government’s borrowing rose to £22 billion ($26.6 billion) in November, as the higher interest costs and cost-of-living payments to households put increasing pressure on public finances. According to the Office for National Statistics (ONS), this was £13.9 billion ($16.8 billion) more than the borrowing figure for the same month last year, and was…
UK Government Borrowing Rises as Energy Support Scheme Begins
November 22, 2022
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Business & Marketseconomic policieseconomyenergygovernment borrowinginflationJeremy HuntKwasi Kwartengliz trussrecessionUKWorld
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The UK’s government borrowing increased in October as the energy support scheme for households and businesses got under way. According to data released by the Office for National Statistics (ONS) on Nov. 22, government borrowing rose to £13.5 billion ($16 billion) in October. The figure was £4.4 billion ($5.2 billion) higher than the same month…
UK Vows to Drive Down Debt as Interest Bill Pushes Government Borrowing to £20 Billion
The UK government has vowed to do “whatever is necessary” to drive down debt after its rising debt interest payment pushed public sector borrowing to £20 billion ($22 billion) last month. According to the latest data from the Office for National Statistics (ONS), the UK’s public sector net borrowing was £20 billion in September 2022,…
UK Government Debt Costs Jump by Nearly 40 Percent Amid Soaring Inflation
Interest payments on UK government debt has jumped by almost 40 percent year-on-year as state borrowing increases at a much faster pace than expected, official data show. According to the latest figures from the Office for National Statistics (ONS), UK government borrowing hit £4.9 billion ($5.8 billion) in July, significantly exceeding the £2.8 billion predicted…
UK Reports Highest February Borrowing Since Records Began
The UK government is estimated to have borrowed £19.1 billion ($26.6 billion) last month, the highest for February since monthly records began in 1993. The borrowing figure is £17.6 billion ($24.5 billion), more than that of February 2020, according to new data released by the Office for National Statistics (ONS) on Friday. In February 2021,…
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