FINANCE

Rising interest on debt blows hole in public finances

Rising debt interest has knocked a hole in the public finances before Chancellor Rishi Sunak announces a spring statement already under pressure due to the Ukraine crisis.

article-author
By Michael Burton | 22 March 2022

Rising debt interest has knocked a hole in the public finances before Chancellor Rishi Sunak announces a spring statement already under pressure due to the Ukraine crisis.

The cost of servicing the UK's £2trn debt last month rose by £2.8bn to £8.2bn, the highest February figure on record, due to inflation.

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Michael Burton

Popular articles by Michael Burton

  1. Council grant funding increases by £2.4bn
  2. A forum first for the Midlands
  3. Unfinished business
  4. Back to the future?
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