FINANCE

UK debt breaks 100% ceiling

Total UK debt has broken the 100% ceiling as a share of the economy for the first time in 62 years after borrowing doubled.

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By Michael Burton | 21 June 2023

Total UK debt has broken the 100% ceiling as a share of the economy for the first time in 62 years after borrowing doubled.

Latest public finance figures from the Office for National Statistics (ONS) showed borrowing in May hit £20bn - £10.7bn more than in May 2022 and the second highest May borrowing since 1993.

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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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