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“While the public sector net borrowing figure was much higher than the £14.1 billion consensus estimate, the UK 10-year gilt yield was unchanged at 4.594 per cent which implies the bond market ...
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]
The most recent monthly figures from the Office for National Statistics (ONS) show that the government borrowed £17.8bn in December 2024 - £10.1bn more than in December 2023, and the highest ...
Debt interest has grown as a proportion of government spending in the last few years as a result of rising interest rates, and increased debt due to primarily to the cost of the Covid pandemic. [10] In financial year 2018–19, debt interest was £43 billion - around 5% of total government spending [11] compared to around 10% in 2023–24.
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
Borrowing in the financial year so far is £129.9 billion, £8.9 billion more than the same period a year earlier and the second-highest financial year-to-December borrowing since monthly records ...
The Coronavirus Job Retention Scheme (CJRS) was a furlough scheme announced by Rishi Sunak, the Chancellor of the Exchequer, on 20 March 2020, during the COVID-19 pandemic in the United Kingdom. [1] The scheme was announced as providing grants to employers to pay 80% of a staff wage and employment costs each month, up to a total of £2,500 per ...
The latest government statistics showed that gross domestic product was stagnant in the three months through September, after growing 0.7% in the first quarter and 0.4% in the second.