The UK public sector net debt exceeded 100 percent of gross domestic product for the first time since 1961, the Office for National Statistics said Wednesday.
At the end of May, public sector net debt totaled GBP 2.57 trillion. This was equivalent to 100.1 percent of GDP.
Further, data showed that the budget deficit reached the second highest level for the month of May since records began in 1993, due to the additional costs of the energy support schemes and increases in benefit payments and staff costs.
Public sector net borrowing increased by GBP 10.7 billion from a year ago to GBP 20.0 billion in May.
This was more than double of the GBP 9.4 billion deficit in the same period last year and the second highest borrowing for the month since 1993.
In the financial year to May, public sector net borrowing increased by GBP 19.6 billion from the last year to GBP 42.9 billion. This was also higher than the official forecast of GBP 40.8 billion.
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