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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.
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 Office for Budget Responsibility forecasts the cost to government of combating COVID-19 pandemic has risen to £123.2bn, with annual borrowing estimated to be 15.2% of the UK economy. This figure is the highest annual borrowing since the end of World War II when it stood at 22.1%.
The UK government has spent more than it has raised in taxation since financial year 2001-02, [3] creating a budget deficit and leading to growing debt interest payments. Average government spending per person is higher in Scotland, Wales and Northern Ireland than it is in England.
Government borrowing was much higher than expected in October, as debt interest payments hit a record high and public sector pay rises contributed to higher spending. Borrowing - the difference ...
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The British government debt is rising due to a gap between revenue and expenditure. Total government revenue in the fiscal year 2015/16 was projected to be £673 billion, whereas total expenditure was estimated at £742 billion. Therefore, the total deficit was £69 billion. This represented a rate of borrowing of a little over £1.3 billion ...
The Office for National Statistics (ONS) published the latest official data on the UK labour market on Tuesday. Coronavirus: Official jobs figures show UK unemployment rose in February Skip to ...