UK govt borrowing highest since Covid pandemic
UK government borrowing has reached the highest level since the start of the Covid pandemic, official data revealed Friday, dealing a blow to the government ahead of its annual budget.
UK government borrowing has reached the highest level since the start of the Covid pandemic, official data revealed Friday, dealing a blow to the government ahead of its annual budget.
The net government borrowing from the country’s banking sector surged in the July–March period of the 2024–25 financial year compared with that in the same period a year earlier, as it ramped up borrowing to address budget deficit ahead of the financial year’s end...
A persistent increase in internal and external government borrowing and the consequent pressure on loan repayment pose a threat to the economy. While economists have for long spoken of negative impacts of the growing government debt, the authorities appear to have ignored the risks and continued to borrow excessively...