UK debt exceeds GDP for first time in 57 years
£87bn up on last year
The UK’s borrowing reached £103.2bn over the months of April and May - £87bn more than during the same period last year – according to figures released by the Office for National Statistics (ONS) today.
Government borrowing in May alone - excluding public sector banks - reached £55.2bn as a result of unprecedented fiscal stimulus triggered by the coronavirus crisis, while tax receipts fell by 28.4% compared...
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