UK borrows hit record high £128bn in 3 months to June

61


British government borrowing surged to a record 128 billion pounds (162 billion) in the first three months of the 2020/21 financial year, when COVID-19 lockdown measures were tightest, more than double the entire previous year’s borrowing.

Most economists think British government borrowing this year will be its largest since World War Two relative to the size of the economy.

Record UK public borrowing less than forecast, watchdog says

Borrowing in June, excluding state-owned banks, was 35.5 billion pounds, the government statistics office said.

That was five times more than a year earlier though below economists’ average forecast of 41.5 billion pounds in a Reuters poll, following a big…



Source: Nigerian Tribune