New figures from the Office for National Statistics show that total UK debt is at £2.985 trillion. A hair’s breadth of the £3 trillion mark…
Borrowing was higher than OBR forecasts at £1.8 billion in July, up £0.7 billion on the same month last year. Self-assessed income tax was collected last month and total receipts reached £17.1 billion, £1.7 billion higher than last year. The Treasury is still borrowing above forecasts…
John Healey said:
“Fiscal discipline is the bedrock of our UK economic stability and national security which is why we are committed to meeting our fiscal rules, with a buffer against global uncertainties.
We are cutting the deficit faster than any other G7 economy, while giving people a bit of breathing space with cost of living pressures and focusing support to get young people into work.”
Mel Stride has released a video on what it means for debt to reach £3 trillion and how much the UK is spending on servicing its debt. Borrowing is taxation deferred…
Lord Khan in the Telegraph: “I hope, and I say this in a non-pompous way, that the public service I do will bring rewards in this world and the hereafter,” he says. “I’m hoping the work I do is earning me Brownie points.”