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Britain’s national debt is estimated to have passed £3 trillion for the first time. | £3TRILLION Debt Could KILL Britain

The TaxPayers’ Alliance calculated the figure using government borrowing data and forecasts.

The latest official figures showed debt had already reached £2.99 trillion by the end of June. That was £122 billion higher than a year earlier and equal to around 95% of the UK’s annual economy.

The sharp increase has been linked to Covid spending, energy-bill support and higher interest rates.

Britain is expected to spend more than £110 billion on debt interest this year. Campaigners have warned that growing debt leaves less money available for public services and passes a larger financial burden to future generations.

The next official debt figures will be published by the Office for National Statistics on 21 August.

Alex Phillips speaks with Popular Conservatism director, Mark Littlewood.

#news #money #finance #economy #uk #debt

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