UK borrows £34bn in December as public sector debt set to increase through 2021

Third highest monthly figure since 1993

David Brenchley
clock • 2 min read

The UK Government borrowed £34bn in December with more expected through 2021, as it continued to fight the effects of the coronavirus pandemic on the economy.

A December figure of £34.1bn for public sector borrowing was a 470% increase on December 2019's figure, the Office for National Statistics said on Friday, and the highest level ever recorded for a December. It was also the third-highest monthly figure since records began in 1993, and means borrowing since the start of the financial year in April has reached £270.8bn. Public sector debt now stands at an all-time high £2.13trn, or 99.4% of GDP, the highest debt-to-GDP ratio since 1962, the ONS added. In contrast, tax revenues were down 0.7% on a year-on-year basis at £60.2bn, with ta...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Advisers zoomed in on capital accumulation in Q4 2025

Advisers zoomed in on capital accumulation in Q4 2025

Titan Square Mile research finds

Jen Frost
clock 30 January 2026 • 3 min read
Measure for measure: How to track your tracker fund

Measure for measure: How to track your tracker fund

Tracking difference and tracking error

Terry McGivern
clock 28 January 2026 • 3 min read
SJP and AJ Bell pivot from US mega-caps in MPS as concentration woes continue

SJP and AJ Bell pivot from US mega-caps in MPS as concentration woes continue

Healthcare, energy and EM preferred

Linus Uhlig
clock 28 January 2026 • 2 min read