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Borrowing between March and December 2024 stands at £129.9bn, which is £8.9bn more than for the same period a year earlier. The total amount the government owes is called the national debt.
The British government debt is rising due to a gap between revenue and expenditure. Total government revenue in the fiscal year 2015/16 was projected to be £673 billion, whereas total expenditure was estimated at £742 billion. Therefore, the total deficit was £69 billion. This represented a rate of borrowing of a little over £1.3 billion ...
Interest payments on UK national debt as percentage of GDP from 1900 to 2011. The history of the British national debt can be traced back to the reign of William III, who engaged a syndicate of City traders and merchants to offer for an issue of government debt, which evolved into the Bank of England.
The yield - or interest rate - charged on key UK government debt dropped below 4.8%, retreating after last week's surge, when it had hit the highest level in 16 years.
The government is spending more on public services than it raises in tax. To bridge this gap it borrows money, but this has to be paid back - with interest - and that can influence wider tax and ...
The government pledged to develop full UK Environmental Accounts by 2020. In December 2012, the Office for National Statistics (ONS) in partnership with the Department for Environment, Food and Rural Affairs (Defra) published a 'roadmap' that set out the timeline for the project to incorporate natural capital into the national accounts.
The Public Sector Net Cash Requirement (PSNCR), formerly known as the Public Sector Borrowing Requirement (PSBR), is the official term for the Government budget deficit in the United Kingdom, that is to say the rate at which the British Government must borrow money in order to maintain its financial commitments.
The yield on the 10-year gilt - the interest rate at which the government pays back a decade-long loan to investors - has risen to 4.86%, its highest level in nearly two decades. The 30-year gilt ...