UK government borrowing 2022/23

The UK Government spends more money than it earns from the taxes it collects.
It runs a budget deficit.

That deficit (the difference between tax revenues and government expenditure is £139bn.

This deficit of £139bn equates to 5.5% of gross domestic product (GDP).

The key message is the Public sector net debt (PSND ex) at the end of March 2023 was £2,530.4 billion.

That is 99.6% of GDP.

…..we are in it together…..

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