Every person in UK “owes” £30,000 as Government borrowing hits £2 trillion for the first time ever.

The sum of money owed by the Government has broken through the £2 trillion mark.

It’s the first time debt has gone beyond that figure.

It means every man person in the UK “owes” £30,000.

The tipping point was last month when the Treasury borrowed more than £26 billion to help the economy as the coronavirus pandemic grips the nation.

The £1 trillion point was reached ten years ago.

Chancellor Rishi Sunak said the figures were “a stark reminder” that “difficult decisions” — almost certain to include big tax rises — will have to be taken to put the public finances back on an even keel.

 

 


About the Author

Philip Braund spent 16 years at the Daily Mirror as a reporter and news editor before moving to ITV. He was the series producer of the ground-breaking investigation programme The Cook Report, Managing Editor at ITV's Millbank Studios, and Head of News at ITV Central. He has won national and regional Royal Television Society awards for documentaries.



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