Thursday, May 13, 2021
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Public sector net debt surges to £2.13 trillion as Covid pandemic smashes UK economy

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The appalling extent of damage the Covid pandemic is reaping on the UK economy was laid bare today as official figures showed public sector net borrowing was £19.1 billion in February – the highest February borrowing levels on record.

The Office for National Statistics said the February number was up some £17.6 billion on last February.

Public sector net debt rose £333 billion over the first 11 months of the current financial year to £2.13 trillion, or 97.5% of GDP, maintaining a level not seen since the early 1960s, the ONS said.

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