The Guardian Australia – Business
·business
·7 hours ago
UK government borrows £23.3 billion in May, highest since 2020
The UK government borrowed £23.3 billion in May 2023, exceeding forecasts by £5.6 billion according to the Office for Budget Responsibility. This marks the highest borrowing for May since 2020 and pushes national debt to 95.1% of GDP. Increased spending on public services and benefits outweighed growth in tax receipts during the month.
Summary by OZbrief · The Guardian Australia – Business
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