Britain’s £500,000,000,000 borrowing binge: UK Covid bill set to hit half a TRILLION this year By Daily Mail City & Finance Reporter Published: 21:51 GMT, 2 November 2020 | Updated: 21:51 GMT, 2 November 2020 Government borrowing is set to balloon to a record £500billion this year as fresh lockdowns slam the economy into reverse. … Read more
Government borrowing hit £36BILLION in September the third-highest in any month since records began By Dan Sales For Mailonline Published: 07:17 BST, 21 October 2020 | Updated: 07:17 BST, 21 October 2020 UK government borrowing has topped £36.1bn in September as heavy spending continued to support the economy during the coronavirus pandemic. It is £28.4bn … Read more
The rich must pay for Covid borrowing binge, says IMF as global debts hit a record £64 TRILLION By James Salmon for the Daily Mail Published: 21:54 BST, 14 October 2020 | Updated: 21:54 BST, 14 October 2020 The wealthy should pay higher taxes to help deal with a Covid borrowing binge that has pushed … Read more
Experts said Britain’s borrowing habits ‘will have changed permanently’ as a result of the coronavirus pandemic, after forecasts estimated credit card and loan borrowing would fall by record levels this year. Demand for consumer credit would fall 15.9 per cent and Britain’s unsecured debt pile would not recover to 2019 levels until 2022, according to … Read more
Rock-bottom borrowing costs mean it is increasingly expensive for the Government to raise cash from savers, according to National Savings & Investments, raising concerns its market-leading savings rates could be cut. It cost the Treasury-backed bank almost £887million more to raise money from savers between April 2019 and March 2020 than if the Treasury borrowed … Read more
Britain’s coronavirus borrowing binge hits £300m: Budget deficit at record levels as cost of pandemic mounts By James Salmon for the Daily Mail Published: 21:51 BST, 14 May 2020 | Updated: 21:51 BST, 14 May 2020 The spiralling cost of subsidising the wages of millions of workers could push Britain’s budget deficit well above £300billion, … Read more
The UK’s debt pile is already hitting £2trillion with worse to come as the Government faces borrowing nearly £300billion this year amid coronavirus chaos, according to new official estimates. The OBR’s latest ‘scenario’ for the crisis says the economy will shrink 35 per cent in this quarter – more than predicted by the Bank of England … Read more