Covid-19: UK public debt reaches record in April due to pandemic

The British Government's debt reached £ 62,100 million (68,746 million euros) in April, a record monthly amount and explained by the strong state spending on combating covid-19, according to official data released today.

According to the UK statistics office (ONS), public sector debt – which excludes nationalized banks – was £ 51.1 billion (56.559 billion euros) higher than in April 2019.

The figure is also significantly higher than predicted by analysts, who had estimated indebtedness of £ 30,700 million (€ 33,970 million) for that period, says the agency France Presse (AFP).

The crisis caused by the covid-19 led the Ministry of Economy to launch a job maintenance program to prevent companies directly affected by the crisis from firing workers.

With the measure, the Government pledged to support 80% of the monthly wages of workers at risk of dismissal up to a maximum of 2,500 pounds (2,758 euros).

As a result of the increase in government borrowing, public sector net debt rose to £ 1.8 billion (over € 2.0 billion) at the end of April.

ICO // MSF

Covid-19: Public debt in the UK reaches record in April due to the pandemic appears first in Vision.

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