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UK national debt hits record £2.024 trillion
25 September 2020, 07:33
The UK's national debt hit a record £2.024 trillion at the end of August according to new data from the Office for National Statistics.
It represents a rise of £249.5 billion compared to the same time last year. The national debt hit £2 trillion for the first time ever in August.
Borrowing was pushed up to 101.9% of gross domestic product (GDP) after the public sector borrowed around £35.9 billion in August.
Analysts had predicted that borrowing would hit £38 billion in August, according to an average taken by Pantheon Macroeconomics.
National debt passed £2 trillion for the first time in history in July as the Government throws billions at offsetting the economic chaos caused by the Covid-19 crisis.