Record government borrowing in April as UK tackles COVID-19 crisis

Record government borrowing in April as UK tackles COVID-19 crisis

The UK govt borrowed a record amount in April, adding £62.1bn to the country’s budget deficit, £51.1bn higher than the same month last year. The figure is twice as high than expected. It comes amid efforts by the govt to prevent job losses from the pandemic by furloughing many of the country’s workers. Public debt jumped to almost 98% of GDP - the highest share of GDP by that measure since 1963.

Tom A
Tom A
Rocky
Rocky 1 weeks

I understand this is in the UK, but the same is happening in the US as well. It's not acceptable. Can we please make an amendment forbidding federal government from passing laws they can't fund immediately. This is ridiculous. No one is paying attention to these idiots making loans against our social security fund which is what 90% of our debt is borrowed against. They are enslaving us and mortgaging our children's future and grand children's future and no one is saying a damn thing against it!

MrFredag
MrFredag 1 weeks

Almost seems like it would be cheaper to have raised taxes to prepare for a potential global pandemic🙄

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