UK economy: National debt tops £2 trillion for first time ever - Business Insider

Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.The UK's government debt has hit £2 trillion for the first time in history after policymakers doled out "extraordinary" fiscal support during the pandemic this year.

Britain's debt has exceeded 100% of economic output for the first time since the 1960s, the ONS said. The news comes about a week after the UK officially entered into recession as economic output dropped 20.4% in the second quarter. The UK's government debt has exceeded £2 trillion for the first time in history, according toThat indicates Britain's debt has exceeded 100% of economic output for the first time since the 1960s, the ONS said.for the first time in 11 years as gross domestic product fell 20.4% in the second quarter.

COVID-19's severe impact on public finances showed that the £150 billion borrowed in the first four months of the 2020 financial year almost tripled the £56 billion borrowed throughout the entire previous financial year . The figures reflect a high amount of government borrowing to support businesses and individuals against the economic downturn caused by the coronavirus.The £26.7 billion that the government borrowed in July "was the lowest monthly borrowing figure since March as fiscal support started to unwind," said Ruth Gregory, senior UK economist at Capital Economics.That amount is close to the £158.

And the Tories are good with the economy? Exactly how?

£2,000,000,000,000.. let that sink in! Although it doesn't work with averages. That's nearly 30k for every man, woman, child and baby.

But yay Brexit

Brexit will make it worse

Populism is so passé.

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