The UK borrowed another £1.8bn last month, taking the national debt to within a whisker to £2.985tn in July. I thought it would pass £3 trillion this summer. That will now happen in the autumn.
The main drivers of more borrowing were welfare and pension payments, which rose 7.2% (£2bn) to £30bn last month.
The cost of debt service, at £7.7bn in July, was almost 10% higher than a year ago.
Four months into the 2026/27 financial year and the government has borrowed almost £57bn, a bit more than the official forecast YTD.
July’s figures yet another reason to brace for hefty tax rises in the October Budget.
@PfslLurker@albieamankona No just got bored of your lazy analysis, others are a better use of time, as it happens I’m on the right if anything but you came in hot & your half baked prejudices got too ahead of you to engage sensibly. Adios.
@VinnieSull1van@Lost___London@BygoneBritain Using a video passing the ritz seems a high bar - but what about King’s Cross, elephant and castle, vuaxhall, those places were absolute dumps back then, some bits have a way to go but massive investment has been happening to clean them up and improve
@PfslLurker@albieamankona That’s a fair counter factual - how could it have been handled that wouldn’t have led him to this - I’m not sure and probably the same outcome sadly, but from someone who had literally never heard of the guy until 2 weeks ago, it all felt excessive and overly salacious
@zarahsultana Probably true - but then flack was hounded - surely it’s just anyone who puts their head above the mediocrity parapet of this country (legitimately or not)