© 2020 – 2023 AEA3 WEB | AEAƎ United Kingdom News
AEA3 WEB | AEAƎ United Kingdom News
News

Record rise in UK borrowing costs puts annual deficit on course to top £100bn

Potential for future tax cuts narrows as cost of servicing debt soars amid rocketing inflation

A record surge in Britain’s borrowing costs in June, pushed up by soaring inflation, has put the government’s budget deficit on course to reach more than £100bn this year, almost double its pre-pandemic level.

Highlighting the scale of the economic challenge that will face the next prime minister, debt interest payments hit £19.4bn last month alone, the highest since monthly records began in April 1997, according to the Office for National Statistics.

Continue reading…

Related posts

Revealed: officials raised ‘flag’ over Nadhim Zahawi’s tax affairs before he was appointed chancellor

AEA3

Covid live: 10 more Omicron variant cases in UK amid 53,945 new infections; Germany ‘lockdown’ on unvaccinated

AEA3

Boris Johnson ‘gone in a year’ unless he cleans up act, senior Tories warn

AEA3

Pin It on Pinterest

Share This