COVID-19: Virus fight forces government borrowing to £303bn – highest level ‘since records began’ | Business News

COVID-19: Virus fight forces government borrowing to £303bn – highest level ‘since records began’ | Business News


The demands of the coronavirus crisis on the public purse strings forced government borrowing to its highest annual sum on record, according to official figures.

The Office for National Statistics (ONS) reported net borrowing of £24.3bn in March – a month when the chancellor revealed a budget that pledged continued support for the public health effort and extended shields for the economy from continuing COVID-19 restrictions.

Figures showed that the latest sum took borrowing to £303.1bn in the 2020/21 financial year as a whole.

The ONS said it marked the highest annual total since 1947 – when comparable records began – though it came in well under the £355bn predicted last month by the Office for Budget Responsibility (OBR).



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