However, in the wake of Chancellor Rachel Reeves’ debut budget of October 2024, which raised £40 billion in new taxes,…
May figure second highest for month on record amid fears chancellor is struggling to keep within spending rules. Read More
UK government borrowing overshot expectations in March and in the full financial year, in a setback for chancellor Rachel Reeves…
Britain ran a bigger-than-expected budget deficit in December, swelled by debt interest costs and a one-off purchase of military homes, … Read…
Official data shows borrowing – the difference between spending and tax take – reached £16.6bn last month. Read More
Britain’s government again borrowed more than expected last month, according to official data released on Wednesday that highlighted the tight … Read…
U.K. public sector net borrowing rose to £3.1 billion ($4.037 billion) in July, up by £1.8 billion the previous year,…
To fill this gap it either borrows money, raises taxes, or cuts spending. To borrow money the UK government sells…
“From the financial crisis to Russia’s invasion of Ukraine, Britain has borrowed and spent its way out of every jam.…