Government borrowing has reached 100% of the country’s GDP, according to the Office for National Statistics The UK’s national debt has hit 100% of the country’s annual economic output, climbing to its highest level since the 1960s, the Office for National Statistics (ONS) revealed on Friday. Government borrowing surged to £13.7 billion ($18.2 billion) over the year to August, and reached a size equal to the annual value of everything produced in the economy, according to the ONS. “Borrowing was up by over £3 billion last month on 2023’s figure, and was the third highest August borrowing on record,” ONS chief econo
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