UK debt jumps to 98 percent of GDP
Topics: GDP UK
The net debt for April stood at £1,887.6 billion, or 98 per cent of GDP.
It was pushed up by government departmental spending that jumped to £91.4 billion last month, vs £55.8 billion for April last year.
That’s an increase of 64 per cent, and only £5.2 billion was the cost of the government’s job retention programme.
That’s eight years’ progress of deficit reduction undone in a matter of weeks. ■