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On 28 March, Fitch Ratings downgraded the UK's government debt rating from AA to AA−, because of coronavirus borrowing, economic decline, and lingering uncertainty over Brexit. The ratings agency believed the UK's government deficit for 2020 might equal 9% of gross domestic product (GDP), compared to 2% the previous year. [87]
As of March 2024, the government guarantee had been removed from 11,813 loans worth a total of 1.04 billion pounds - figures the government began publishing after Reuters' FOI request.
The most recent monthly figures show the government borrowed £11.2bn in November 2024, which was £3.4bn lower than the same month last year and the lowest November figure since 2021.
Britain faces a hole in its budget, with fears cheap borrowing and eventual recovery may not fully close the gap in years to come. Coronavirus: What it means for UK government borrowing and taxes ...
NHS England coronavirus poster, February 2020 [22] NHS England poster for the "Catch it, Bin it, Kill it" slogan which has been revived in the fight against COVID-19. The first published government statement on the COVID-19 situation in Wuhan was released on 22 January 2020 by the Department of Health and Social Care and Public Health England. [23]
Extension of the Coronavirus Job Retention Scheme and Self Employment Income Support Scheme until the end of September; £1.65 billion injection into the COVID-19 vaccine roll-out in England; £28 million to increase the UK's capacity for vaccine testing, clinical trials and improve the UK's ability to acquire samples of new variants of SARS-CoV-2
How does government borrowing work, and how and when is the money paid back? Skip to main content. Sign in. Mail. 24/7 Help. For premium support please call: 800-290-4726 more ways to ...
The annual amount that the government must borrow to plug the gap in its finances used to be known as the public sector borrowing requirement, but is now called the Public Sector Net Cash Requirement (PSNCR). The PSNCR figure for the financial year end 2017 was £46 billion, [3] total British GDP in 2017 was £1.959 trillion. [23]