State borrowing by British Prime Minister Boris Johnson's government has reached £241 billion since the first UK lockdown in late March.
which nevertheless rebounded stronger than expected in the 3rd quarter, official data showed on Tuesday, December 22.
Separate data showed the UK economy bounced back by an all-time high 16% in the July-September period, up from an initial reading of 15.5%, as the country exited the first lockdown.At the same time,"November's surge in borrowing is unlikely to be reversed much over the next few months as the ongoing COVID-19 restrictions keep many businesses closed," noted Capital Economics analyst Thomas Pugh.
State borrowing by Prime Minister Boris Johnson's government has reached £241 billion since the first UK lockdown in late March – an increase of £189 billion year-on-year.A chunk of the money raised has been to keep millions of private-sector worker in jobs via the government's furlough scheme, with the bulk of wages expected to be paid until the end of April next year.