NATIONAL debt hits record £2.08trillion as Chancellor Rishi Sunak warns of cuts to come, the Chancellor explained public finances must be ‘put on a sustainable path’.
Public sector net debt hit £2.08trillion by the end of October. That is also 100.8 per cent of GDP, a ratio not seen since the early 1960s.
The Tory Chancellor said spending billions on the coronavirus response was the correct thing to do, however, warned of cuts to come.
Mr Sunak said, “We’ve provided over £200 billions of support to protect the economy, lives and livelihoods from the significant and far-reaching impacts of coronavirus.
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