Public debt swells to largest level since 1960s – CityAM : CityAM

The UK government’s stock of debt relative to the economy swelled to its highest level since the 1960s, driven by the expensive response to quash the impact of the Covid crisis wreaking havoc on the public finances.

Data from the Office for National Statistics shows public sector net debt reached £2.2 trillion at the end of July 2021, representing 98.8 per cent of GDP, the highest ratio since March 1962.

More to follow.