Surge in borrowing takes UK national debt above 100% of GDP

UK public debt exceeds GDP for 1st time since 1963

At end May 2020 was 100.9% of GDP

Debt was £1.95 trillion, increase of 20.5% compared with May 2019, largest year-on-year increase in debt as a percentage of GDP on record (monthly records began in 1993) https://t.co/uAJto5I9ty

— Linda Yueh (@lindayueh) June 19, 2020

Public sector net debt was £1,950.1 billion at the end of May 2020.

This is equivalent to 100.9% of GDP, the first time it has exceeded 100% since March 1963 https://t.co/HpZpRXQQFf

— Office for National Statistics (ONS) (@ONS) June 19, 2020

To any who think - debt looks unmanageable - austerity must result - it by no means inevitably follows. What counts is the cost of servicing debt, not the scale of it. As long as the economy grows faster in recovery than debt servicing costs, the burden of debt gets lighter.

— Andy Verity (@andyverity) June 19, 2020

UK public debt exceeds 100% of GDP for first time since 1963 https://t.co/ORv8UxoV0b

— Financial Times (@FT) June 19, 2020

By my reckoning, the @bankofengland will soon own about a third of all UK government debt in issue. When you consider how much of that government debt there is, that’s quite something. pic.twitter.com/unK5Y6hFWo

— Ed Conway (@EdConwaySky) June 18, 2020

This is worth a glance from the respected independent analysts Capital Economics: pic.twitter.com/GCkT7TBXns

— Andy Verity (@andyverity) June 19, 2020

Public sector debt exceeds 100% of GDP for first time since before even I was born. But as this chart shows that's not so unusual in the long sweep of history. https://t.co/COPRM0zlpb

— Paul Johnson (@PJTheEconomist) June 19, 2020