2020.10.2107:13:00UTC+00UK Budget Deficit Widens In September

The UK budget deficit widened in September due to the substantial increases in borrowing amid the coronavirus pandemic, the Office for National Statistics reported Wednesday.

Public sector net borrowing increased by GBP 28.4 billion from the last year to GBP 36.1 billion in September. This was the third highest borrowing in any month since records began in 1993.

In the first six months of this financial year, borrowing was GBP 208.5 billion, which was GBP 174.5 billion more than in the same period last year and the highest borrowing in any April to September period since records began in 1993. Public debt climbed GBP 259.2 billion in the first six months of the financial year to reach GBP 2,059.7 billion at the end of September 2020, or around 103.5 percent of gross domestic product. This was the highest debt to GDP ratio since the financial year ending 1960.