The volume of the UK government debt at the end of 2014 reached 2.34 trillion pounds ($3.15 trillion) and amounted to about 96% of the country’s GDP, which is the highest value since 1963, official data show. The rise in government debt is due to a large injection of funds into the economy to deal with the effects of the crisis caused by the coronavirus pandemic. Meanwhile, government borrowing on the debt market last December totaled 16.8 billion pounds – lower than in December 2020 (24.4 billion pounds) and below the consensus forecast (18.5 billion pounds), Trading Economics wrote.

The figure excludes borrowing by state banks. Since the beginning of the current fiscal year, that is, in April-December 2021, the volume of borrowing amounted to 146.8 billion pounds. The indicator became the second largest in history, but fell almost half compared to the same period in 2020 and was 12.9 billion pounds below the forecast of the Office for Budget Responsibility (OBR). Receipts in the British budget in December amounted to 68.5 billion pounds against 62.3 billion pounds in the same month of the previous year. Expenditures decreased by 1 billion to 84.7 billion pounds.