Menu
Sat, 2 December 2023

Newsletter sign-up

Subscribe now
The House Live All
Economy
The Purpose of Mutual and Co-operative Business in Society Partner content
Economy
Half a billion reasons to ban unjust broadband and mobile price increases Partner content
Economy
London’s super sewer is nearly here – but we must keep making progress Partner content
By Andy Mitchell CBE, Tideway CEO
Health
Health
Press releases

Coronavirus: UK borrowed twice as much in first quarter of this year as in whole of 2019, new figures show

Debt soared to its highest level since March 1961, the ONS found.

1 min read

The Government borrowed twice as much in the first quarter of this year as it did in the whole of 2019 as ministers raced to respond to the Covid-19 pandemic, new figures show.

The latest public sector finance data from the Office for National Statistics show that borrowing soared to £127.9bn between April and June this year — “more than double that borrowed in the whole of the last financial year”.

Quarterly borrowing was up by more than £103.9bn on the same period last year, and hit the highest April to June total since records began in 1993, the ONS reveals.

Debt meanwhile soared to its highest level since March 1961, rising to 99.6% of UK gross domestic product — an increase of 18.9% compared to the same time last year.

The figures come after a raft of big-ticket Government measures to respond to the Covid-19 pandemic, and cover the height of the UK’s coronavirus lockdown.

More follows...

PoliticsHome Newsletters

PoliticsHome provides the most comprehensive coverage of UK politics anywhere on the web, offering high quality original reporting and analysis: Subscribe

Podcast
Engineering a Better World

The Engineering a Better World podcast series from The House magazine and the IET is back for series two! New host Jonn Elledge discusses with parliamentarians and industry experts how technology and engineering can provide policy solutions to our changing world.

NEW SERIES - Listen now

Partner content
Connecting Communities

Connecting Communities is an initiative aimed at empowering and strengthening community ties across the UK. Launched in partnership with The National Lottery, it aims to promote dialogue and support Parliamentarians working to nurture a more connected society.

Find out more