Office for National Statistics confirms Britain’s record borrowing

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Build Back Better Business Council faces a tough job
Build Back Better Business Council faces a tough job Credit: Andrew Parsons / No 10 Downing Street

THE UK Government’s borrowing has hit its highest level since the Second World War as the total by the end of March reached £303.1 billion (€333 billion) according to the ONU.

The Office for National Statistics added that borrowing in March alone rose to £28 billion (€30.8 billion) and compared to same time last year, borrowings over income for the Government were up by £250 billion (€275 billion).

There is no doubt that the pandemic is to blame for this huge increase in borrowing, but as Britain comes out of lockdown, the road to economic recovery is going to be rocky to say the least.

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John Smith

Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica.

Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene.

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