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UK government borrowing surges again as Covid cases soar
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The UK government borrowed £17.4bn in November, outstripping economists’ predictions and suggesting debt could far overshoot officials’ forecasts if the Omicron coronavirus variant slows the economy as expected.
It was the highest November borrowing since comparable records began 30 years ago, barring last year. Last year during the furlough scheme the Treasury under Rishi Sunak set successive peacetime records for monthly borrowing as it covered the costs of 80% of salaries for millions of people as well as support schemes for businesses.
Significant borrowing has continued in 2021, with £136bn borrowed between April and November, according to data published on Tuesday by the Office for National Statistics. That was the second highest since
Read more on theguardian.comAbout this in other media
Demand for COVID-19 self-test kits skyrocket in Europe amid Omicron surge euronews.com /2 years ago
Brexit: ‘the biggest disaster any government has ever negotiated’ theguardian.com /2 years ago
UK lender allows homebuyers to borrow seven times salary theguardian.com /2 years ago
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