UK Public Borrowing

22 August 2023 Pound Sterling Rises Against Dollar, Euro Et Al as Borrowing Beats Forecasts

Pound Sterling climbed against the Dollar, Euro and a selection of other currencies on Tuesday after Office for National Statistics (ONS) figures painted a less bleak picture of the public finances…

21 October 2022 Government Finances Not as Bad as They Looked in September - Pantheon

Government borrowing rose by just less than one percent of economic output in September, according to Office for National Statistics data released on Friday, although some economists say the data w…

19 October 2022 From Britain to Beirut and Lebanon to London: When Currencies and Nations Fall

The dramatic plunge in sterling and UK gilt prices following Kwarteng’s unsupported tax cuts announcement drew many to radical conclusions.

19 October 2022 Chancellor's Tweaks to Energy Price Scheme Could Add 5% to UK Inflation

UK inflation could be around five percent higher than otherwise from April 2023 if the latest Chancellor's plan to means-test access to the government's Energy Price Guarantee goes ahead, according…

22 March 2022 Sunak Won't Want to Boost Inflation with Budget Giveaways

A boost to the government's tax intake won't sway Chancellor Rishi Sunak from his quest to cut the budget deficit as he will be wary of stoking inflation and maintaining his credentials as a truly …

19 November 2021 Government Debt Servicing Costs to Surge to £60BN

The latest set of government spending and borrowing data from the ONS was not as cheery as some economists had expected, largely because the cost of servicing debt is rising rapidly in line with su…

21 October 2021 Government Borrowing: Sunak Still Undershooting Forecasts, but it's Going to Get Tougher says Economist

The UK borrowed more than economists expected in September as the government added to its growing debt pile, however borrowing for the current financial year is still far below the levels forecast …

25 May 2021 Government Borrowing Undershoot Means Tax Hikes can be Avoided

Public Sector Net Borrowing for April came in at £31.7BN, an increase on the £28BN borrowed in March but below economist estimates for a reading of £32BN.

23 April 2021 UK's Debt Piles Up, But Economists see Some Silver Linings

The UK's public sector spending deficit in 2020/21 stood at £303BN according to new data released by the ONS on Friday, which amounts to 14.5% of GDP and is a new post-war record.

19 March 2021 The Government is Borrowing Less than was Expected

Government borrowing in February was £19.1BN which is below the market consensus expectation for a more sizeable £21.4BN, suggesting the government is on course to undershoot borrowing forecasts se…

22 January 2021 UK Retail Sales Fall, Borrowing Surge Warn Against Tax Rises in Budget

UK retail sales were little changed in December after an anticipated rebound failed to materialise and government borrowing surged ahead of the festive holidays in what economists say should be tak…

09 December 2020 HM Treasury Penny Pinching Greater Threat to Economy than Deficit, Economists Say

Britain's economy received its own shot in the arm this week when the ball began rolling on a global coronavirus vaccination programme, although the economy's recovery could be cut short if HM…

26 November 2020 Cut Spending and Raise Taxes by £40BN to get UK Finances Back on Track - Economist

The UK will inherit a larger 'structural' long-term fiscal deficit owing to the covid-19 crisis, but economists warn that the government risks a major policy error if it tries to eliminate the defi…

20 November 2020 No Need to Rush Spending Cuts and Tax Rises Rishi: Economists React to Record October Spending Data

The government will 'front load' its fiscal tightening over coming months as it scrambles to try and plug the growing hole in its finances, according to economists who have reacted to news that sho…

21 October 2020 The UK's Debt Burden Surges, Tax Intake Falls but "Markets don't seem to Care One Bit"

The ONS reports the UK's debt pile expanded by a further £36.1BN in September 2020 as the UK Government borrowed significant amounts to fund the associated costs of locking down the country to try …

25 September 2020 Government's Record Borrowing Spree Balloons £35.9BN in August

The government borrowed £35.9BN from financial markets in August as it continues to count the cost of staving off an economic meltdown due to the lockdown and restrictions it has introduced to try …

21 August 2020 UK Economy's Growing £2 Trillion Debt Pile Said to Constrain Chancellor in Autumn Budget

Public debt surpassed £2 trillion in the UK during July even as borrowing came in below market expectations, leaving the government on course for a record deficit that economists say could constrai…

21 July 2020 Chancellor Faces Mammoth Task to Right Public Finances after June's Modest Improvement

Chancellor Rishi Sunak launched 2020's comprehensive spending review Tuesday, which is expected to see the government make good on a range of past commitments but will underline the goliathan task …

19 June 2020 UK's Ballooning Debt: Expect the Government's Thirst for Cash to Start Fading from Here

The UK's debt at the end of May 2020 was 100.9% of gross domestic product (GDP), the first time that debt as a percentage of GDP has exceeded 100% since the financial year ending March 1963, says t…

21 February 2019 Tax Boost Helps Chancellor with the Biggest January Budget Surplus on Record

The UK's public finances recorded their largest-ever January surplus, in what amounts to a welcome boost to the Chancellor of the Exchequer Philip Hammond mere weeks ahead of Brexit.