Economics

UK borrowing exceeds GDP for the first time in more than 50 years

Debt levels have increased by a record sum in the past year

Friday 19 June 2020 at 10:40

UK debt has soared to record levels as the government begins to feel the effects of its massive efforts to contain the spread of Covid-19.

Public sector debt grew to 100.9% of the UK's gross domestic product at the end of May – the first time that metric has topped 100% since March 1963.