Public debt has topped £2 trillion for the first time on record as spending soared to prop up the economy in the face of the coronavirus pandemic. The figure at the end of July was £227.6 billion higher than the same month last year, according to the Office for National Statistics (ONS). Chancellor Rishi Sunak said it was a “stark reminder” of the need to get the UK’s finances back on an even keel after the economic turmoil of the COVID-19 crisis. He warned “difficult decisions” would need to be taken.
UK public debt – How did it reach £2 trillion?
