Economics

UK public borrowing hits new record as coronavirus batters economy

Britain borrowed a record £173.7bn in the first five months of its financial year

The coronavirus pandemic pushed UK borrowing to £35.9bn in August 2020, the third highest figure in any month since records began in 1993.

Figures from the Office for National Statistics showed that UK debt hit £2.02 trillion in August, £249.5bn more than the same time in 2019. UK debt exceeded £2 trillion for the first time in history in July due to the impact of the pandemic.

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