The UK's national debt has reached its highest level since 1962, at 99.5% of the value of the economy in June. The amount the government borrowed was more than expected, with implications for public finances.
Chief Secretary to the Treasury highlighted the severe economic situation post-Second World War. Lower June borrowing was offset by challenges to maintain spending levels without raising taxes, creating fiscal dilemmas for the new Chancellor.
[
Collection
]
[
|
...
]